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policy. We address four core subject areas: market power, collusion, mergers between competitors, and monopolization. In each …
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This paper develops a theory of oligopoly and markups in general equilibrium. Firms compete in a network of product market rivalries that emerges endogenously out of the characteristics of the products and services they supply. My model embeds a novel, highly tractable and scalable demand system...
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Abstract There are both market power and cost efficiency effects associated with airline mergers. Previous studies … study two main mergers – Delta/Northwest and United/Continental – and find that both increase market power in markets where … mergers. These efficiency effects are relatively larger than the market power effects and come from different sources. In the …
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