This paper, written for a centennial commemoration of the Federal Trade Commission’s creation, reviews the history of two major cases—the tetracycline case of the 1950s and 1960s and the suit against four (eventually three) ready-to-eat breakfast cereal manufacturers in the 1970s. Those...

Bain was born in 1912. Following the American antitrust tradition, Bain developed inHarvard in the '30s, and then in Berkeley, a new approach to industrial organization focusedon potential competition as the dynamic core of Economy. Bain defined the Structure, Conduct, Performance, that has been...

In this paper we endogenize the horizontal structure of illicit drug markets. The key assumption is that the trafficker’s probability of detection depends on his/her market share. The author show that a stricter law enforcement policy encourages traffickers to permit competitors into the...

The main aim of this paper is to study the propensity of consumer cooperatives (Coops)to use incentive schemes in situations of strategic interaction with profit-maximizing …rms (PMFs). Our model provides a reason why Coops are less prone than PMFs to pay variable bonuses to their managers. We...

Farmers and consumers suspect that processing firms abuse their power in the milk marketing chain. We employ threshold autoregressive and moment threshold autoregressive tests and contrary to expectations find evidence of a downward trend in wholesale milk price without a corresponding decline...

This paper examines a dynamic game of exploitation of a common pool of some renewable asset by agents that sell the result of their exploitation on an oligopolistic market. A Markov Perfect Nash Equilibrium of the game is used to analyze the effects of a merger of a subset of the agents. We...

In this article we consider the interaction between forward and spot prices and analyze trading in oligopolistic markets under uncertainty. We extend the two-stage risk-neutral stochastic model to worst-case analysis with rival demand scenarios. At the methodological level we develop a robust...

The paper examines how and to which extent consolidation in the Polish power generation sector has affected the potential for market power over the last 10 years. Although this sector has been undergoing liberalisation (privatisation, introduction of TPA regulations and competition etc.), the...