Horizontal mergers have a large impact by inducing a long-lasting change in market structure. Only in an industry with substantial entry barriers is a merger not immediately counteracted by post-merger entry. To evaluate the duration of the effects of a merger, I use the model of Abbring and...

We test econometrically whether the sole Danish producer of cement holds a dominant <p> position in the Danish market for (grey) cement. In import penetration tests, we find that its <p> pricing and quantity decisions are independent of import price and quantity, implying that it can <p> act to a...</p></p></p>

The European Court of Justice's definition of when a firm has a dominant position has recently come under attack as being meaningless and impossible to measure. We argue that both attacks are wrong, suggest an economic interpretation of domination and propose how it may be measured using modern...

Public and private action against cartels is an internationally recognized cornerstone of antitrust enforcement. Effective private enforcement requires that cartel victims can receive (at least) full compensation for the harm suffered. Academics and competition authorities support this goal with...

The pre-insulated pipe cartel was established 1990 in Denmark, was extended to Italy and Germany during 1991 and re-organised in 1994 to cover the entire common market. Cartel members engaged in market sharing, price setting, bid rigging, coordinated predation and delaying of innovation. The...

Coordination Failure Diagnostics (CFD) is a model that analyses real market processes with the help of time pattern analysis and investigates whether they operate efficiently (See www.wiwi.uni-muenster.de/cfd). The CFD cartel-audit should enable the detection of cartels via characteristic market...

Kartellerin tespitine yönelik olarak başlatılan ancak kesin bir sonuca ulaşamayan çabalar aksine kartelin güçlenmesine yolaçabilir. Varlığı kesin olarak saptanan karteller yasanın elverdiği en ağır şekilde cezalandırılmalıdır. Kartel uygulamalarında görülebilecek yetersiz...

Where fines are the only available sanction against cartels there is a trade-off between increased deterrence and the increased risk of insolvency. Higher fines are unacceptable to the European Commission because of the costs and uncertainties associated with bankruptcy. These concerns have led...

China's new Anti-Monopoly Law (AML), over two decades in the making, was finally enacted on August 30, 2007 and on August 1, 2008 will replace the disparate and ineffective competition regime currently in place. Legislators invited the input of a wide array of domestic and foreign legal experts...

The paper studies the market reaction to the withdrawal of a prominent private bank - Kuhn Loeb - from the board of several firms. The event study shows that although Kuhn Loeb added significant value to the firms where it had a board seat, most of this value came from reduced industry...