Showing 1 - 10 of 81
This Paper studies predatory trading: trading that induces and/or exploits other investors’ need to reduce their positions. We show that if one trader needs to sell, others also sell and subsequently buy back the asset. This leads to price overshooting and a reduced liquidation value for the...
Persistent link: https://www.econbiz.de/10005791996
with other pieces of evidence as collected in standard predation cases. We propose a predatory squeeze test that respects …
Persistent link: https://www.econbiz.de/10005497999
-best outcome: a situation in which patent predation is deterred without inducing excessive litigation. …
Persistent link: https://www.econbiz.de/10005504368
The most important issues in auction design are the traditional concerns of competition policy-preventing collusive, predatory, and entry deterring behaviour. Ascending and uniform-price auctions are particularly vulnerable to these problems (we discuss radiospectrum and football TV-rights...
Persistent link: https://www.econbiz.de/10005114514
vertically integrated firms. We review both predation and foreclosure theories, as well as the mere exploitation of upstream … under tight wholesale regulation should be evaluated under the predation paradigm, with an adequate test that we …
Persistent link: https://www.econbiz.de/10011083910
In this paper we provide a new way of modelling two-sided markets, and we then use this model to study anti-competitive conduct in an asymmetric two-sided market which captures the main features of some recent antitrust cases. We show that below-cost pricing on one market side can allow an...
Persistent link: https://www.econbiz.de/10011084167
This Paper shows that predation might help firms overcome the free riding problem of mergers by changing the … predators prefer predation technologies that destroy the prey's assets since they limit the negative effects of the subsequent … increase the incentives for predation by helping predators avoid the bidding competition. Moreover, the incentive for predation …
Persistent link: https://www.econbiz.de/10005661959
tests for contagion (i.e., an intensification in the transmission of shocks across countries), fragmentation (a reduction in … same time, Italy and Spain became more interdependent after the OMT announcement, providing our only evidence of contagion …
Persistent link: https://www.econbiz.de/10011276387
traded quantities are determined by means of a matching algorithm. Contagion occurs through liquidity hoarding, interbank …
Persistent link: https://www.econbiz.de/10011252622
In this paper, we provide new evidence on the determinants of sovereign yield spreads and contagion effects in the euro … contagion driven by shifts in market sentiment. This evidence points to a discontinuity in the disciplinary role of financial …
Persistent link: https://www.econbiz.de/10009367426