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In an industry where regulated firms interact with unregulated suppliers, we investigate the welfare effects of a merger between regulated firms when cost synergies are uncertain before the merger and their realization becomes private information of the merged firm. The optimal merger policy...
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How to design audit mechanisms that harness the benefits of self-reporting for achieving compliance with regulatory targets while limiting misreporting is a pressing question in many regulatory contexts, from climate policies to public health. Contrasting random audit and competitive audit...
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the effects of an otherwise anticompetitive hospital merger subject to local regulation. We found that, after a large …On December 15, 2011, Phoebe Putney Health System acquired the only other hospital in Albany, Georgia — Palmyra Medical … after the district and appellate courts ruled that Phoebe Putney had antitrust immunity due to its regulation by the local …
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