Critical loss analysis is a way to directly implement the hypothetical monopolist test for a product market. The first step of critical loss analysis calculates the “critical loss,” which is the maximum loss in sales that the hypothetical monopolist controlling a candidate market could incur...

This paper empirically analyzes the Federal Trade Commission's merger enforcement decisions, to supplement the 2004 release of the Horizontal Merger Investigation Data. The study provides insights into the review process for both multi- and single-market mergers. We present concentration-based...

This paper describes a dynamic random effects econometric model from which inferences on earnings mobility may be made. It answers questions such as, given some initial level of observed earnings, what is the probability that an agent with certain characteristics will remain below a specified...

We collect a sample of EU and US merger investigations, estimate models of the regulatory decisions, and use the models to compare merger policies. Our approach allows us to decompose observed differences into policy effects and case-mix effects. Focusing on dominance mergers, we find that the...

This paper describes a dynamic random effects econometric model from which inferences on earnings mobility may be made. It answers questions such as, given some initial level of observed earnings, what is the probability that an agent with certain characteristics will remain below a specified...

Almost universally, the Oaxaca (1973) decomposition is used to compare the outcomes between two discrete groups, e.g., black and white. In many applications, however, groups are not readily divided into discrete bins. The purpose of this paper is to extend the Oaxaca decomposition to examine...

Purpose: Editors of employee magazines work in a grey area between public relations and journalism. On the one hand, they need to accommodate the company management’s interest in a positive presentation; on the other, they must meet the employees’ need for objective and independent...

Purpose: Past research has been concerned with finding reasons for failure of organizational changes and the role of employees in it. Whether employees hinder or support organizational change depends not only on the organizational context, but also on individual predispositions and the change...

Purpose: Editors of employee magazines may be torn between diverging expectations among their stakeholders. The management might be interested in strategically supportive communication, whereas employees might expect objective, independent, or critical coverage. Based on quantitative data, the...