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Does Strategic Ability Affect Efficiency? Evidence from Electricity Markets

Hortacsu, Ali - 2017

Oligopoly models of price competition predict that strategic firms exercise market power and generate inefficiencies …

Persistent link: https://www.econbiz.de/10012953975

Acemoglu, Daron - 2010

We study the efficiency of oligopoly equilibria in a model where firms compete over capacities and prices. The … demands across the firms. We first establish the existence of pure strategy subgame perfect equilibria (oligopoly equilibria … oligopoly equilibria of this game can be arbitrarily low. However, if the best oligopoly equilibrium is selected (among multiple …

Persistent link: https://www.econbiz.de/10012760481

An Aggregative Games Approach to Merger Analysis in Multiproduct-Firm Oligopoly

Nocke, Volker - 2018

Using an aggregative games approach, we analyze horizontal mergers in a model of multiproduct-firm price competition with nested CES or nested logit demands. We show that the Herfindahl index provides an adequate measure of the welfare distortions introduced by market power, and that the induced...

Persistent link: https://www.econbiz.de/10012919859

A Dynamic Oligopoly with Collusion and Price Wars

Fershtman, Chaim; Pakes, Ariel - 2021

Most of the theoretical work on collusion and price wars assumes identical firms and an unchanging environment, assumptions which are at odds with what we know about most industries. Further that literature focuses on the impact of collusion on prices. Whether an industry can support collusion...

Persistent link: https://www.econbiz.de/10013223570

A Dynamic Oligopoly with Collusion and Price Wars

Fershtman, Chaim; Pakes, Ariel - 2001

Persistent link: https://www.econbiz.de/10014156182

Capital-Market Effects of Securities Regulation : Prior Conditions, Implementation, and Enforcement

Christensen, Hans Bonde - 2011

We examine the capital-market effects of changes in securities regulation in the European Union (EU) aimed at reducing market abuse and increasing transparency. To estimate causal effects for the population of EU firms, we exploit that for plausibly exogenous reasons, like national legislative...

Persistent link: https://www.econbiz.de/10013130969

Do Increasing Markups Matter? Lessons from Empirical Industrial Organization

Berry, Steven - 2019

This paper considers the recent literature on firm markups in light of both new and classic work in the field of Industrial Organization. We detail the shortcomings of papers that rely on discredited approaches from the “structure-conduct-performance” literature. In contrast, papers based on...

Persistent link: https://www.econbiz.de/10012867454

Market Definition, Market Power

Kaplow, Louis - 2015

Market definition and market power are central features of competition law and practice but pose serious challenges. On one hand, market definition suffers decisive logical infirmities that render it infeasible, unnecessary, and counterproductive, and the practice of stating market power...

Persistent link: https://www.econbiz.de/10013022600

Countervailing Market Power and Hospital Competition

Barrette, Eric; Gowrisankaran, Gautam; Town, Robert J. - 2022

While economic theories indicate that market power by downstream firms can potentially counteract market power upstream, antitrust policy is opaque about whether to incorporate countervailing market power in merger analyses. We use detailed national claims data from the healthcare sector to...

Persistent link: https://www.econbiz.de/10013324079

Disclosure Rules and Declared Essential Patents

Bekkers, Rudi - 2017

Many standard setting organizations (SSOs) require participants to disclose patents that might be infringed by implementing a proposed standard, and commit to license their “essential” patents on terms that are at least fair, reasonable and non-discriminatory (FRAND). Data from these SSO...

Persistent link: https://www.econbiz.de/10012950842

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