In this paper, we summarize the economic literature on non-price effects of mergers and acquisitions (M&As). Specifically, we discuss the effects of M&As on innovation, product variety, and sustainability. Although the relationship is theoretically ambiguous, the vast majority of ex-post...

This paper studies the relationship between market concentration and aggregate productivity when firmlevel demand emerges from past marketing investments. Granular firms may invest in demand both to complement their productivity and to amplify market power-this second force can create persistent...

Innovations in consumer products frequently rely on technological advances across multiple tiers in a supply chain. Considering the consumer market demand and downstream investment conditions as input, we model a game in a two-tier supply chain where downstream firms choose to adopt different...

In a Cournot oligopoly set up with constant marginal cost and linear demand, innovation is rewarding. In this paper we work with a Cournot oligopoly framework with increasing marginal cost and linear demand and show that innovation may not be rewarding. We endogenize the success probability of...

While price-fixing cartel prosecutions have received significant attention, the policy determinants and the political preferences that guide such antitrust prosecutions remain understudied. We empirically examine the intertemporal shifts in U.S. antitrust cartel prosecutions during the period...

While price-fixing cartel prosecutions have received significant attention, the policy determinants and the political preferences that guide such antitrust prosecutions remain understudied. We empirically examine the intertemporal shifts in U.S. antitrust cartel prosecutions during the period...

This note reveals that while the monopolist has ideal incentives to innovate, consistent with Schumpeter’s original hypothesis, the oligopolist’s incentive to innovate is non-monotonic in its market share and approaches that of the monopolist in the limit as the number of identical firms...

A duopoly model of cost reducing R&D-Cournot competition is extended to study the endogenous timing of R&D strategic investment. Under the assumption that R&D spillovers only flow from the R&D leader to the follower, sequential and simultaneous play at the R&D stage are compared, in order to...

We study the introduction of new products in a vertically differentiated industry. Innovative firms have to engage into reducing time-to-market investments in order to shorten the time interval between innovation and sales. Still, these investments generate irreversible costs which have to be...

This study analyzes the optimal provision of goods in a market characterized by vertical product differentiation. We consider a duopoly model in which incumbents may introduce a new product with certain quality, and decide whether to keep or to withdraw the existing product from the market. We...