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We analyze evidence production in merger control as a delegation problem in an inquisitorial competition policy system. The antitrust agency’s incentives to produce evidence on the efficiency of a merger proposal depend critically on its action set. Allowing for a compromising remedy solution...
Persistent link: https://www.econbiz.de/10012438354
This paper experimentally studies the role of associative memory for belief formation. Realworld information signals are often embedded in memorable contexts. Thus, today’s news, and the contexts they are embedded in, may cue the selective retrieval of similar past news and hence contribute to...
Persistent link: https://www.econbiz.de/10012118551
This paper uses a discrete-time partial equilibrium model of the European Emissions Trading System (EU ETS) to analyze the impact of the recent reform on allowance prices. By including bounded rationality such as myopia or hedging requirements, we find that the Hotelling price path is no longer...
Persistent link: https://www.econbiz.de/10012291879
cross-industry differences in this dimension. Theory suggests several potential factors that might explain this dispersion … lower variability of the number of firms; and (2) these relationships are non-linear as suggested by theory with initial …
Persistent link: https://www.econbiz.de/10011508062
While price-fixing cartel prosecutions have received significant attention, the policy determinants and the political preferences that guide such antitrust prosecutions remain understudied. We empirically examine the intertemporal shifts in U.S. antitrust cartel prosecutions during the period...
Persistent link: https://www.econbiz.de/10011346282
many industries around the world since the 1980s. Two major criticisms of these studies is that concentration and market …
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