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and Fortis Bank NL in the Dutch retail banking market. The financial crisis delayed the completion of the merger giving …
Persistent link: https://www.econbiz.de/10012268034
As a part of their industry or competition policies governments decide whether to allow for free market entry of firms or to regulate market access. We analyze a model where governments (ab)use these policy decisions for strategic reasons in an international setting. Multiple equilibria of this...
Persistent link: https://www.econbiz.de/10011508060
Are dominant online search engines monopolies enjoying low contest-ability, due to high barriers to entry, or innovative first-movers? This paper argues that dominant online search engines maintain their leadership through an “innovation feedback loop”: a process whereby increasing R&D...
Persistent link: https://www.econbiz.de/10012828760
This document analyses the effects of regulation and competition policy on the structure of the gas market. The natural monopoly features of transportation, added to the physical and technological features of gas as a commodity, allow this activity to be the focus of interesting regulatory...
Persistent link: https://www.econbiz.de/10014026801
Allegations of market power in wholesale electricity sales are typically tested using price-cost margins. Such tests are inherently suspect in markets, such as electricity, subject to capacity constraints. In such markets, prices can vary with demand while quantity and thus cost measures remain...
Persistent link: https://www.econbiz.de/10014060636
during the period 2002-2010. The results show an inverse U-shaped association between market power and bank soundness and … activities, official intervention to bank management and book transparency. However, in markets with higher share of foreign … stability channel of bank competition …
Persistent link: https://www.econbiz.de/10013072563
We here want to analyze how the imperfect competition mark-up and pass-through are transmitted through the production chain and how they change, as a function of the number of firms existing at each production stage. In order to have an analytical closed form solution, we use the standard linear...
Persistent link: https://www.econbiz.de/10014034784
Regulation and competition policy are two alternative modalities by which the state intervenes in the market. In order for either to deliver welfare gains, there must first be a pre-existing market failure. We first present different varieties of market failures and identify those for which...
Persistent link: https://www.econbiz.de/10011635985
media content, including the AT&T-Time Warner and the Disney-Fox mergers. Using a theory-driven approach, we examine …
Persistent link: https://www.econbiz.de/10012011207
This is the first installment of a two-part commentary on the New Brandeis School in Antitrust. In this first part, I examine why the New Brandeis School is correct to reject the consumer welfare standard. Instead of arguing, as the New Brandesians do, that the consumer welfare standard leads to...
Persistent link: https://www.econbiz.de/10012895831