develop a model to simulate the unilateral price increase from a merger in an auction market. We illustrate our results in the …United States antitrust merger analysis has recently focused on simulating the unilateral effects of mergers. We … price increases predicted by our model are modest in general. We also simulate the merger cost savings that are needed to …

extreme value, asymmetric, second-price, private-values auction. In equilibrium, prices (winning bids) and shares (winning … an extreme value distribution and thus lies on the same price/share curve. Consequently, merger price effects can be … computed as a movement along the price/share curve, from the average pre-merger share to the post-merger aggregate share. The …

In a private values, open auction, we show that bidder surplus can be expressed as a simple difference between … the effects of a merger among bidders for any joint value distribution, and illustrate its use by simulating the effects … of the 2016 proposed Anthem-Cigna merger using a nested logit specification …

Following merger, an optimal mechanism discriminates against merging bidders with higher reserve prices and by … the point where the merger can become unprofitable. Merger effects are also much smaller than in open auctions because …

profit-share auctions, first- and second-price, supplemented by entry fees. Since non-merged firms benefit from a merger if …. Unlike cash auctions, profit-share auctions are not revenue equivalent, and the second-price profit-share auction is more …

, depending on how after-merger valuations are created. In the first, single-aspect model, the valuation of the merged firm is the … maximum of the valuations of the two firms engaged in the merger. In the multi-aspect model, a bidder's valuation is the sum … merger creates incentives for bidders to shade their bids leading to lower revenue. In the second model, the non …

Here we analyze how, in an open procurement auction, cost reductions among suppliers bidding to sell to a buyer affect …. These results have implications for vertical integration and merger analysis. Increases in concentration increase the … incentives of non-integrated suppliers remain unchanged. In terms of merger analysis these results suggest that pass through of …