This paper investigates the relationship between exports and overseas links using data from the UK Community Innovation Survey. Overseas vertical and horizontal links are associated with an average increase in export intensity of 74 and 156 percent for vertical and horizontal overseas links...

We analyze health care option demand markets with vertical restraints divided along two dimensions: naked and conditional exclusion, and vertical integration; applicable to the upstream, the downstream, and both markets. Our unified framework includes forward and backward integration, and joint...

A recent wave of large vertical mergers presents a challenge to established theories of vertical integration. The large mergers that have occurred in the pharmaceutical industry between drug manufacturers and companies that manage drug insurance benefits (such as Merck's acquisition of Medco)...

Based on recent data concerning the French distribution networks in retail and services, this paper highlights several stylized facts relating to the sector-based differences in the organizational choices. Until now this issue has not been studied in the economical literature. This paper...

Under caveat emptor, buyers effect their measurements prior to exchange. Long-term relationships and contracts allow buyers to measure commodities at consumption. Buyers use subjective measurements in long-term relations. Contractual guarantees shift enforcement to the state, but require...

A commercial mortgage-backed security (CMBS) is a claim on future returns to a bundle of loans. Empirically, loans that are securitized “in-house” -- when the loan originator is vertically integrated with the issuer of the CMBS -- outperform loans securitized by unaffiliated issuers. I...

This paper investigates the competition between vertically differentiated platforms in two-sided markets. We assume the presence of two competing platforms producing either higher- or lower-quality devices for consumers. Each platform decides the price of its hardware device for consumers and...

This paper illustrates the underlying economic logic behind the anticompetitive effects of what Ralph Winter and I have labeled vertical most favored nation restraints in Carlton and Winter (2018). Those are restraints in which one supplier tells a retailer that the retailer cannot set the...

We consider a vertically integrated input monopolist supplying to a differentiated downstream rival. With linear input pricing, at the margin the firm unambiguously wants the rival to expand — unlike standard oligopoly with no supply relationship — for either Cournot or Bertrand competition....

This paper sheds new light on the assessment of firm networks via multiple directorships in terms of corporate firm performance. Using a large sample of European listed firms in the period from 2003 to 2011 and system GMM we find a significant compensation effect on corporate firm performance...