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We develop a model of vertical mergers with open auctions upstream, This setting may be appropriate for industries where inputs are procured via auction-like "requests for proposal." For example, Drennan et al (2020) reports that a model of this type was used during the CVS-Aetna merger...
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Understanding the implications of digital platform strategies on user welfare has become a crucial issue for policy makers and economists alike. In payments, distributed ledger technologies such as the blockchain have introduced new models of platform governance in the form of vertically...
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