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This is a survey of the economic principles that underlie antitrust law and how those principles relate to competition policy. We address four core subject areas: market power, collusion, mergers between competitors, and monopolization. In each area, we select the most relevant portions of...
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We investigate the effects of passive backward acquisitions in their efficient upstream supplier on downstream firms' ability to collude in a dynamic game of price competition with homogeneous goods. We find that passive backward acquisitions impede downstream collusion. The main driver of our...
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When the 1968 Merger Guidelines were drafted, both the economics and antitrust literatures addressed how competition … moves, such as price cuts or output expansion. But when economists developed new models of oligopoly behavior, and of … reincorporated along with the newer ones. Our article points out limitations of the workhorse repeated game model of oligopoly …
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, merger laws and enforcement practices, econometric methods for analyzing prospective horizontal mergers, and evidence …
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