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. …

This paper investigates the effects on tacit collusion of increased market transparency on the consumer side of a … underbutting the collusive price. It also decreases the punishment profit. The net effect is that collusion becomes harder to … for tacit collusion. …

We analyze competition between data intermediaries collecting information on consumers, which they sell to firms for … price discrimination purposes. We show that competition between data intermediaries benefits consumers by increasing … competition between firms, and by reducing the amount of consumer data collected. We argue that merger policy guidelines should …

mobile termination rate regulation. We find that regulation benefits consumers significantly more than entry does, and that … high-income consumers and city-dwellers benefit more in terms of increased consumer surplus. …

Envelopment is an effective form of market entry that facilitates competition among platforms. Nevertheless, many …

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. …

This paper studies the welfare consequences of a vertical merger that raises rivals costs when downstream competition … consumers surplus caused by a higher downstream price which follows a higher input price. It is also shown, through an example …, that this result extends to price competition with differentiated products. …

competition. In this paper we provide the first empirical analysis of this relationship. We study Germany’s retail gasoline market … outcomes linked to competition. Because station-level adoption is endogenous, we use brand headquarter-level adoption decisions … increase by 28% in markets where both do. These results suggest that AI adoption has a significant effect on competition. …

, collusion. …

We investigate the effect of a ban on third-degree price discrimination on the sustainability of collusion. We build a …' discount factor has to be higher in order to sustain collusion in grim-trigger strategies under price discrimination than under …