In this comprehensive review of ex-post merger studies price effects of horizontal transactions are evaluated. By combining and further analyzing the results of 52 retrospective studies on 82 mergers or merger-like transactions it can be shown that the industry alone is no strong indication for...

Many markets, including markets for IPOs and debt issuances, are syndicated: each winning bidder invites competitors to join its syndicate to complete production. Using repeated extensive form games, we show that collusion in syndicated markets may become easier as market concentration falls,...

A patent challenger who defeats a patent wins spoils that it must share with the world, including all its competitors. This forced sharing undercuts an alleged infringer's incentive to stay in the fight to the finish - especially if the patent owner offers an attractive settlement. Too many...

This paper provides empirical evidence showing the effect of airline cooperation on the level of interline fares paid by international passengers. The analysis focuses on two measures of cooperation, codesharing and antitrust immunity, and the results show their partial effects are both...

This paper provides empirical evidence showing the effect of airline cooperation on the level of interline fares paid by international passengers. The analysis focuses on two measures of cooperation, codesharing and antitrust immunity, and the results show their partial effects are both...

Information technology markets in general, and wireless communications markets in particular, rely on standardization mechanisms to develop interoperable devices for rapid and secure data processing, storage and transmission. From 2G through the emergent 5G standard, wireless communications...