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Merger efficiencies provide the primary justification for why mergers of competitors may benefit consumers. Surprisingly, there is little evidence that efficiencies can offset incentives to raise prices following mergers. We estimate the effects of increased concentration and efficiencies on...
Persistent link: https://www.econbiz.de/10012459308
method to study merger effects on firm entry and product variety in the retail craft beer market in California. We simulate … an acquisition of multiple craft breweries by a large brewery and find that the acquisition would induce firm entry and …
Persistent link: https://www.econbiz.de/10013334365
We conduct an empirical case study of the U.S. beer industry to analyze the disruptive effects of locally … generation of adult Millennial consumers. We document a generational share gap: Millennials buy more craft beer than earlier … Baby Boomers, with the remainder explained by intrinsic generational differences in preferences. We predict the beer market …
Persistent link: https://www.econbiz.de/10012496172
charges. Taking this behavior into account, we estimate an equilibrium model of dealer price setting and lender competition …
Persistent link: https://www.econbiz.de/10012482354
The landmark Waxman-Hatch Act of 1984 represented a "grand compromise" legislation that sought to balance incentives for innovation by establishing finite periods of market exclusivity yet simultaneously providing access to lower cost generics expeditiously following patent expiration. Here we...
Persistent link: https://www.econbiz.de/10012462225
A large empirical literature found that the correlation between insurance purchase and ex post realization of risk is often statistically insignificant or negative. This is inconsistent with the predictions from the classic models of insurance a la Akerlof (1970), Pauly (1974) and Rothschild and...
Persistent link: https://www.econbiz.de/10012455907
We construct a novel database containing the universe of financial advisers in the United States from 2005 to 2015, representing approximately 10% of employment of the finance and insurance sector. We provide the first large-scale study that documents the economy-wide extent of misconduct among...
Persistent link: https://www.econbiz.de/10012456624
accident mortality rates of youths ages 15 through 17, 18 through 20, and 21 through 24 are negatively related to the real beer … purchase of beer. Simulations suggest that the lives of 1,022 youths between the ages of 18 and 20 would have been saved in a … typical year during the sample period if the Federal excise tax rate on beer, which has been fixed in nominal terms since 1951 …
Persistent link: https://www.econbiz.de/10012477160
This paper investigates changes in cultural consumption patterns for a low concentration industry: wine and beer. Using … data on 38 countries from 1963-2000, there is clear convergence in the consumption of wine relative to beer between 1963 …
Persistent link: https://www.econbiz.de/10012467457
This paper develops an approach to measuring the intensity of competition in international markets. The method measures … the degree of 'outside' competition faced by exporters located in one source country from firms located outside the source … a particular source country, to calculate our measure of outside competition. The measures are estimated using panel …
Persistent link: https://www.econbiz.de/10012473651