We study antitrust enforcement in which the fine must obey four legal principles: punishments should fit the crime, proportionality, bankruptcy considerations, and minimum fines. We integrate these legal principles into an infinitely-repeated oligopoly model. Bankruptcy considerations ensure...

We study antitrust enforcement that channels price-fixing incentives through setting fines and allocating resources to detection activities. Antitrust fines obey four legal principles: punishments should fit the crime, proportionality, bankruptcy considerations, and minimum fines. Bankruptcy...

This paper analyses the extent of inter-format retail competition between supermarkets, discounters and drugstores in Germany, using data from the German market for diapers. We estimate a random coefficient logit model at the individual household level. Based on consumer substitution patterns,...

Research on bargaining power in vertical relationships is scarce. It remains particularly unclear which factors drive bargaining power between negotiating parties in a vertical structure. We use a demand model where consumer demand determines the total pie of industry profits. Moreover, we apply...

The paper focuses on the various methods used to quantify cartel damages, which have become more and more important as private damage suits in the aftermath of antitrust litigation increase. The approaches implementation is embedded into current legal environments with regards to the estimation...

In Japan, the newspapers with the greatest daily circulation offer both morning and evening editions in most of their distribution areas. Their prices per page of actual content are different for morning-and-evening subscribers than for morning-only subscribers. So the subscription price...

In Japan, newspapers enjoy a special exemption from antimonopoly prohibitions against resale price maintenance (suppliers' stipulations that bar downstream firms from price discounting), but are each required to set uniform prices throughout Japan. In fact, the newspapers have rarely changed...

In Japan, newspapers enjoy a special exemption from antimonopoly prohibitions against resale price maintenance (suppliers' stipulations that bar downstream firms from price discounting), but are each required to set uniform prices throughout Japan. In fact, the newspapers have rarely changed...

In many intermediate goods markets buyers and sellers both have market power. Contracts are usually long-term and negotiated bilaterally, codifying many elements in addition to price. We model such bilateral oligopolies as a set of simultaneous Rubinstein-Ståhl bargainings over contracts...

This paper applies an intuitive approach based on stock market data to a unique dataset of large concentrations during the period 1990-2002 to assess the effectiveness of European merger control. The basic idea is to relate announcement and decision abnormal returns. Under a set of four...