We study the timing of leniency applications using a novel application of multi-spell discrete-time survival analysis for a sample of cartels that were prosecuted by the European Commission (EC) between 1996 and 2014. The start of an EC investigation does not affect the rate at which...

We propose a methodology for estimating the competition effects from entry when firms sell differentiated products. We first derive precise conditions under which Bresnahan and Reiss' entry threshold ratios (ETRs) can be used to test for the presence and to measure the magnitude of competition...

In an oligopoly configuration characterized by high barriers to (re-)entry, a finite horizon, perfect information about demand and costs and the presence of three identical firms, we show that two of them (the predators) can choose to charge an initial price that is so low that the third (the...

We investigate cartelists’ merger behavior using European Commission (EC) cartel decisions over a 28-year span and information on cartelists’ merger activities over the last 30 years. We find that mergers occur frequently. But they cluster in a few particular industries and usually include...

14 January 2020: After months of speculation, Google finally announced its plan to phase out third-party cookies on Chrome within the next two years. As Chrome boasts a worldwide market share in excess of 64%, the news sent shockwaves in the online advertising industry, whose foundations are...

This paper contains our personal observations on the CMA's Interim Report on its Market Study on Online platforms and digital advertising (the “Interim Report”). As a starting point, we are very impressed by the quality of the Interim Report as it correctly identifies the competition issues...