stakes of collusion. On the other hand, it creates an asymmetry between the integrated firm and the unintegrated competitors … cooperative equilibrium, which potentially harms collusion. As we show, the optimal collusive profit-sharing agreement takes care … the asymmetries in the non cooperative state. As a result, vertical integration generally favors collusion …

second part discusses the nature of competition between intermediaries, addressing issues as competitive crosssubsidies …

prices and features of goods without incurring search costs. The platform alleviates sellers' competition by charging them … transaction fees that increase with sales revenue, and extracts surplus via membership fees. It prices consumers' membership below … membership and per transaction while letting consumers access website for free …

The effects of (private, small-scale) piracy on the pricing behavior of producers of information goods are studied …-Nash equilibria in a duopoly. Comparing equilibrium prices to the prices set by a multiproduct monopolist, we show that competition … drives prices up and may lead to price dispersion. Competition reduces total surplus in the short run but provides higher …

We show how temporary ownership by private equity firms affects industry structure, competition and welfare. Temporary … rivals from obtaining assets. These incentives benefit consumers, but harm rivals in the industry. Evaluating optimal …

We show how temporary ownership by private equity firms affects industry structure, competition and welfare. Temporary … rivals from obtaining assets. These incentives benefit consumers, but harm rivals in the industry. Evaluating optimal …