Germany: The Bundeskartellamt’s New Merger Guidelines

Germany: The Bundeskartellamt’s New Merger Guidelines by Andreas Bardong, Bundeskartellamt ABSTRACT: Economic concepts play a far greater role, in the updated guidance document on substantive merger control in Germany (2012), in particular in the area of collective dominance. Markets are analysed with a view to constraints within the market (eg competitors), outside the market (eg potential […]

Price Effects and Switching Costs of Airlines Frequent Flyer Program

Claudio A. Agostini, Universidad Adolfo Ibanez Diego Inostroza, Manuel Willington, Universidad Alberto Hurtado discuss Price Effects and Switching Costs of Airlines Frequent Flyer Program. ABSTRACT: Frequent flier programs create a switching cost for the consumer and allow firms to exercise market power. In Chile there is a dominant airline in domestic markets that has a frequent flyer […]

Competition Within Intellectual Property Regimes – The Instance of Patent Rights

Rudolph J.R. Peritz, New York Law School has authored Competition Within Intellectual Property Regimes – The Instance of Patent Rights. ABSTRACT: This chapter describes an emergent jurisprudence and a residual economics that converge to support the reconceptualization of U.S. patent policy as a competition regime. Its approach is inspired by an opinion that Justice Sandra Day O’Connor […]

Upward Pricing Pressure in Two-Sided Markets

    Upward Pricing Pressure in Two-Sided Markets by Pauline Affeldt (ECA Economics), Lapo Filistrucchi (Tilberg), and Tobias J. Klein (Tilburg) ABSTRACT: Pricing pressure indices have recently been proposed as alternative screening devices for horizontal mergers involving differentiated products. We extend the concept of Upward Pricing Pressure (UPP) proposed by Farrell and Shapiro (2010) to […]

The Application of EU Competition Law in the Pharmaceutical Sector

    The Application of EU Competition Law in the Pharmaceutical Sector by David W. Hull (Covington) ABSTRACT: If the Court of Justice follows the Advocate General’s advice and upholds the General Court’s judgment in AstraZeneca, this may result in increased enforcement aimed at various life cycle management strategies. The Commission’s current enforcement priority remains […]

On welfare losses due to imperfect competition

On welfare losses due to imperfect competition by Robert Ritz (Cambridge) ABSTRACT: Corporate managers and executive compensation in many industries place significant emphasis on measures of firm size, such as sales revenue or market share. Such objectives have an important – yet thus far unquantifed – impact on market performance. With n symmetric firms, equilibrium welfare […]

Endogenous Market Structures and Welfare

  Endogenous Market Structures and Welfare by Federico Etro (Department of Economics, University Of Venice Ca Foscari)  ABSTRACT: I characterize microfounded endogenous market structures with Bertrand and Cournot competition and perform welfare analysis generalizing the Mankiw-Whinston condition for excess entry. The impact of market leaders on welfare is reconsidered, with a number of policy implications […]

Newspaper and Internet Display Advertising – Co-Existence or Substitution?

  Newspaper and Internet Display Advertising – Co-Existence or Substitution? by Nadine Lindstadt (Department of Environmental and Business Economics, University of Southern Denmark) and Oliver Budzinski (Department of Environmental and Business Economics, University of Southern Denmark)  ABSTRACT: Newspapers have been experiencing declining circulation figures and diminishing advertising revenues for several years – both effects might […]

The Contribution of Innovation to Health Care Costs: At Least 50%?

  The Contribution of Innovation to Health Care Costs: At Least 50%? by Rosa M. Abrantes-Metz (Global Economics Group, LLC; New York University – Leonard N. Stern School of Business – Department of Economics) Abstract:       This paper is primarily concerned with estimating an upper bound for the contribution of technological progress on health […]

What Goes Up, Doesn’t Come Down: The Absence of the Mitigating-Role Adjustment in Antitrust Sentencing

  What Goes Up, Doesn’t Come Down: The Absence of the Mitigating-Role Adjustment in Antitrust Sentencing by Mark Rosman and Jeff VanHooreweghe (Wilson Sonsini) ABSTRACT: The Sentencing Guidelines permit an upward or downward adjustment to a sentencing calculation based on the extent of the defendant’s participation in the criminal act. Mark Rosman and Jeff VanHooreweghe […]

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