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There are many industries in which potentially competitive segments require services provided by natural monopoly bottlenecks (essential facilities). Since it is difficult to regulate these facilities, developing countries are using Demsetz auctions, where the facility is awarded to the firm...
Persistent link: https://www.econbiz.de/10013235272
The pay-as-you-go social security system, increasingly burdened by dwindling labor force, can benefit from immigrants whose birth rates exceed those of the native born birth. The paper examines adynamic political-economy mechanism through which the social security system influences the young...
Persistent link: https://www.econbiz.de/10013152617
Since the passage of the Interstate Commerce Act (1897) and the Sherman Act (1890), regulation and antitrust have … operated as competing mechanisms to control competition. Regulation produced cross-subsidies and favors to special interests … antitrust and regulation. Antitrust and regulation can also be viewed as complements in which regulation and antitrust assign …
Persistent link: https://www.econbiz.de/10012777652
produce even worse takeover arrangements. This paper puts forward a novel form of federal intervention in the regulation of … that such a federal role in takeover law cannot harm and would likely improve the regulation of takeovers. Moreover, by …
Persistent link: https://www.econbiz.de/10012787801
government designs the rules of the game has an impact on concentration, competition, and prices. Pro-competition regulation …
Persistent link: https://www.econbiz.de/10012965433
. Inspired by the theory of the core, we explore the idea that the competitive process is the process of sellers and buyers …
Persistent link: https://www.econbiz.de/10013129134
Anecdotal evidence suggests that uncontrolled managers let wages rise above competitive levels. Testing this popular perception has proven difficult, however, because independent variation in the extent of managerial discretion is needed. In this paper, we use states' passage of anti-takeover...
Persistent link: https://www.econbiz.de/10013137228
In this article, I explain the inadequacy of our current state of knowledge regarding the effectiveness of antitrust policy towards mergers. I then discuss the types of data that one must collect in order to be able to perform an analysis of the effectiveness of antitrust policy. There are two...
Persistent link: https://www.econbiz.de/10012757872
We investigate the impact of changes in states' anti-takeover legislation on executive compensation. We find both pay for performance sensitivities and mean pay increase for the firms affected by the legislation (relative to a control group). These findings are partially consistent with an...
Persistent link: https://www.econbiz.de/10012763822
In this paper we review issues relating to antitrust and competition in health care markets. The paper begins with a brief review of antitrust legislation. We then discuss whether and how health care is different from other industries in ways that might affect the optimality of competition. The...
Persistent link: https://www.econbiz.de/10013224318