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Vertical mergers, foreclosure and raising rivals' costs: Experimental evidence
Normann, Hans-Theo - 2010
The hypothesis that vertically integrated firms have an incentive to foreclose the input market because foreclosure …. A powerful argument against this hypothesis is that, absent commitment, such foreclosure cannot occur in Nash …
Persistent link: https://www.econbiz.de/10010302573
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Backward ownership, uniform pricing and entry deterrence
Hunold, Matthias - 2017
and thereby can lead to market foreclosure. Based on this theory, the article reviews a merger case in the financial …
Persistent link: https://www.econbiz.de/10011649478
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Do we (still) need to regulate fixed network retail markets?
Briglauer, Wolfgang; Götz, Georg; Schwarz, Anton - 2008
In the beginning of fixed network liberalisation in Europe in the late 1990s, the main concern of regulators was to lower calls prices. This was done by introducing wholesale regulation and promoting service based competition. Some years later, the concern of some regulators turned from too high...
Persistent link: https://www.econbiz.de/10010265881
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Vertical integration, raising rivals' costs and upstream collusion
Normann, Hans-Theo - 2008
This paper analyzes the impact vertical integration has on upstream collusion when the price of the input is linear. As a first step, the paper derives the collusive equilibrium that requires the lowest discount factor in the infinitely repeated game when one firm is vertically integrated. It...
Persistent link: https://www.econbiz.de/10010266966
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Foreclosure and tunneling with partial vertical ownership
Hunold, Matthias; Petrishcheva, Vasilisa - 2022
input foreclosure or customer foreclosure. We show that the incentives to foreclose can be higher, equal, or even lower with …
Persistent link: https://www.econbiz.de/10013385143
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Estimating vertical foreclosure in US gasoline supply
Aydemir, Zava; Buehler, Stefan - 2002
develop a novel framework for directly evaluating the strategic foreclosure effect and the effciency benefits associated with … vertical integration. Applying this framework, we find significant evidence for both vertical foreclosure and effciency … benefits. The foreclosure effect dominates the effciency benefits for more than half of the refining firms in the sample …
Persistent link: https://www.econbiz.de/10010315497
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Asymmetric vertical integration
Buehler, Stefan; Schmutzler, Armin - 2004
identify countervailing forces resulting from strong vertical foreclosure, upstream sales and endogenous acquisition costs. …
Persistent link: https://www.econbiz.de/10010315532
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Biased quality investments and organisational structures in network industries: An application to the railway industry
Pakula, Benjamin; Götz, Georg - 2011
. However, we also find foreclosure in the downstream market if the potential degree of horizontal product differentiation of … the entrant is low. Under ownership unbundling, investment incentives are lower but there is never foreclosure of the …
Persistent link: https://www.econbiz.de/10010286357
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Doubling Back on Double Marginalization
Linnemer, Laurent - 2022
"Double marginalization" and "Elimination of Double marginalization" are catch-phrases commonly used in the IO literature. In this note, I trace back the origin of the idea to Chapter IX, on complementary goods monopolies, of Cournot (1838). Through the years Cournot's contribution remained a...
Persistent link: https://www.econbiz.de/10013177565
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Making sense of the subprime crisis
Gerardi, Kristopher S.; Lehnert, Andreas; Sherland, Shane M. - 2009
This paper explores the question of whether market participants could have or should have anticipated the large increase in foreclosures that occurred in 2007 and 2008. Most of these foreclosures stemmed from loans originated in 2005 and 2006, leading many to suspect that lenders originated a...
Persistent link: https://www.econbiz.de/10010292214