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How Merger Synergies Can Harm Consumers : A Defense of the Efficiencies Offense

Ramos, Paulo; Wollmann, Thomas G. - National Bureau of Economic Research - 2024

This paper uses an aggregative games framework to predict consumer welfare when market structure is endogenously determined. Our main results characterize mergers whose synergies reduce consumer welfare by inducing rivals to exit. The conditions under which such mergers arise are broad,...

Persistent link: https://www.econbiz.de/10014576659

Centralization and Organization Reproduction : Ethnic Innovation in R&D Centers and Satellite Locations

Kerr, William R. - National Bureau of Economic Research - 2023

We study the relationship between firm centralization and organizational reproduction in satellite locations. For decentralized firms, the ethnic compositions of inventors in satellite locations mostly resemble their host cities, with little link to the inventor composition of their parent...

Persistent link: https://www.econbiz.de/10014372481

Intellectual Property Protection Lost and Competition : An Examination Using Machine Learning

Acikalin, Utku U.; Caskurlu, Tolga; Hoberg, Gerard; … - National Bureau of Economic Research - 2022

We examine the impact of lost intellectual property protection on innovation, competition, acquisitions, lawsuits and …

Persistent link: https://www.econbiz.de/10013462719

Bargaining and International Reference Pricing in the Pharmaceutical Industry

Dubois, Pierre; Gandhi, Ashvin; Vasserman, Shoshana - National Bureau of Economic Research - 2022

The United States spends twice as much per person on pharmaceuticals as European countries, in large part because prices are much higher in the US. This fact has led policymakers to consider legislation for price controls. This paper assesses the effects of a US international reference pricing...

Persistent link: https://www.econbiz.de/10013210081

Product Repositioning by Merging Firms

Atalay, Enghin; Sorensen, Alan T.; Sullivan, Christopher J. - National Bureau of Economic Research - 2023

We examine merging firms' additions and removals of products for a sample of 66 mergers across a wide variety of consumer packaged goods markets. We find that mergers lead to a net reduction in the number of products offered by merging firms. Merging firms tend to both drop and add products at...

Persistent link: https://www.econbiz.de/10014287330

The Steering Incentives of Gatekeepers in the Telecommunications Industry

McManus, Brian; Nevo, Aviv; Nolan, Zachary; Williams, … - National Bureau of Economic Research - 2022

We study trade-offs faced by multiple-system operators (MSOs), the gatekeepers in the provision of internet service, when setting prices and quality for internet access and TV service. In response to improvements in over-the-top video (OTT), MSOs choose between accommodating OTT to share in the...

Persistent link: https://www.econbiz.de/10013362053

Trends in Competition in the United States : What Does the Evidence Show?

Shapiro, Carl; Yurukoglu, Ali - National Bureau of Economic Research - 2024

Has the United States economy become less competitive in recent decades? One might think so based on a body of research that has rapidly become influential for antitrust policy. We explain that the empirical evidence relating to concentration trends, markup trends, and the effects of mergers...

Persistent link: https://www.econbiz.de/10014635724

Information Flows, Organizational Structure, and Corporate Governance

Malenko, Nadya - National Bureau of Economic Research - 2023

This survey provides an overview of theoretical and empirical research on information flows in corporations. It highlights key frictions preventing effective information flows and discusses how organizational structure and corporate governance can alleviate these frictions, focusing on three...

Persistent link: https://www.econbiz.de/10014287310

A Theory of Stock Exchange Competition and Innovation : Will the Market Fix the Market?

Budish, Eric - 2019

-frequency trading. The robust conclusion is that private innovation incentives are much smaller than the social incentives, especially …

Persistent link: https://www.econbiz.de/10012479804

Market Structure and Innovation : A Dynamic Analysis of the Global Automobile Industry

Hashmi, Aamir Rafique - 2010

We study the relationship between market structure and innovation in the global automobile industry from 1982 to 2004 … using the dynamic industry framework of Ericson and Pakes (1995). Firms optimally choose a continuous level of innovation in … parameter -- the cost of innovation. In terms of the relationship between market structure and innovation, we find that: (1) At …

Persistent link: https://www.econbiz.de/10012462693

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