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Acemoglu, Daron - 2006

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/10012465855

Competition and Efficiency in Congested Markets

Acemoglu, Daron - 2005

We study the efficiency of oligopoly equilibria in congested markets. The motivating examples are the allocation of …

Persistent link: https://www.econbiz.de/10012467484

A Dynamic Oligopoly with Collusion and Price Wars

Fershtman, Chaim - 1999

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/10012471871

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/10012453139

Does Strategic Ability Affect Efficiency? Evidence from Electricity Markets

Hortaçsu, Ali - 2017

Oligopoly models of short-run price competition predict that large firms can exercise market power and generate …

Persistent link: https://www.econbiz.de/10012455156

Dynamic Price Competition with Capacity Constraints

Betancourt, Jose M.; Hortaçsu, Ali; Öry, Aniko; … - National Bureau of Economic Research - 2024

We study dynamic price competition between sellers offering differentiated products with limited capacity and a common sales deadline. In every period, firms simultaneously set prices, and a randomly arriving buyer decides whether to purchase a product or leave the market. Given remaining...

Persistent link: https://www.econbiz.de/10014635636

A New Era of Midnight Mergers : Antitrust Risk and Investor Disclosures

Barrios, John M.; Wollmann, Thomas G. - National Bureau of Economic Research - 2022

Antitrust authorities search public documents to discover anticompetitive mergers. Thus, investor disclosures may alert them to deals that would otherwise escape scrutiny, creating disincentives for managers to divulge transactions. We study this behavior in publicly traded US companies. First,...

Persistent link: https://www.econbiz.de/10012814430

Do Increasing Markups Matter? Lessons from Empirical Industrial Organization

Berry, Steven T. - 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/10012479956

Countervailing Market Power and Hospital Competition

Barrette, Eric - 2020

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/10012481962

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

Christensen, Hans B. - 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/10012461921

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