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The U.S. and EU Merger Guidelines strongly emphasize the relevance of the "ease of entry" argument in merger evaluations. Up to now, very little is known empirically about how mergers affect entry and exit, and the resulting number of firms in the markets. We empirically test this aspect of...
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This paper develops a fairly general model of platform competition in media markets allowing viewers to use multiple … platforms. This leads to a new form of competition between platforms, in which they do not steal viewers from each other, but … competition "either or both." A central result is that platform ownership does not affect advertising levels, despite nontrivial …
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point of view perfect competition is not always desirable. …
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point of view perfect competition is not always desirable. …
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explain them. We then describe a theoretical framework of endogenous markups, innovation, and competition that can potentially …
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