Periods of profound innovation and technological change invariably result in short run winners and losers. The rise of big box retailers like Wal-Mart, as well as the existence of large supermarket chains, has led competition authorities to focus anew on the issue of buyer power. Antitrust...

Damage compensation claims in case of cartels are supposed to increase deterrence, compensate losses and increase efficiency. I show that such claims can instead have adverse effects: If suppliers or buyers of cartelists are compensated in proportion to the profits lost due to the cartel,...

This paper examines the competitive effects of resale price maintenance (RPM) through inventory decisions under demand uncertainty. We focus on the Japanese publishing industry where RPM is allowed. We develop and estimate a model of RPM in which price and inventory are determined before demand...

We show that the rise in ebook prices following Apple's entry into the market can be explained by Amazon's Kindle device losing its essential position. When consumers began accessing Amazon's ebooks using third-party devices, such as the iPad, Amazon's incentive to keep ebook prices low...

In this paper, we discuss from an economic perspective two alternative views of restrictions of competition by sports associations. The horizontal approach views such restrictions as an agreement among the participants of a sports league with the sports association merely representing an...

This study constructs a simplest model to examine anticompetitive exclusive contracts that prevent a downstream buyer from buying input from a new up-stream supplier. Incorporating Nash bargaining into the standard one-buyer-one-supplier framework in the Chicago School critique, we show a...

When Apple entered the ebook market, prices rose. A recent court decision found Apple guilty of colluding with publishers, blaming the price hike, in part, on agency agreements and prohibiting their use. Building a model to compare these with traditional wholesale agreements, we identify a...

The US Supreme Court's overruling of the pre-existing per se illegality of resale price maintenance and the recommendation of a rule of reason approach in the Leegin decision (2007), raise the question whether other jurisdictions should follow this approach and what future assessments of resale...