Developed economies have historically been a model for emerging market economies, particularly in the development and enforcement of competition laws. Modifications to competition law rules in developed economies, however, may not always be practical for emerging market economies to adopt....

Antitrust economists routinely utilize simulation models to predict the price effect of a transaction or agreement that involves collective pricing and/or collective profit maximization, such as a merger. Proportionality-Calibrated Almost Ideal Demand System (PCAIDS) model is a variant of the...

United States antitrust merger analysis has recently focused on simulating the unilateral effects of mergers. We develop a model to simulate the unilateral price increase from a merger in an auction market. We illustrate our results in the context of hospital mergers in the U.S., and calibrate...

On September 4, 1996, the two largest office superstore chains in the United States, Office Depot and Staples, announced their agreement to merge. Seven months later, the Federal Trade Commission voted 4 to 1 to oppose the merger on the grounds that it was likely to harm competition and lead to...

Investors in financial markets bet their dollars on whether a merger will raise or lower prices. Below, we apply an event-probability methodology to the proposed merger between Staples and Office Depot, which was challenged by the FTC and eventually withdrawn. In addition to a time-series...

The recent merger between US Airways and American Airlines was approved by federal and state antitrust authorities, after the merging parties agreed to divest slots and gates at certain “constrained” airports to low cost carriers. By analyzing the stock-market returns of rival airlines, we...