Corporate & Securities Law

2010 Merger Guidelines: Empirical Analysis

Posted on November 04, 2010
Posted by D. Daniel Sokol Jerry Hausman (MIT - Econ) discusses 2010 Merger Guidelines: Empirical Analysis.

New Horizontal Merger Guidelines Indicate Greater Scrutiny of High Tech and Pharmaceutical Transactions

Posted on November 03, 2010
Posted by D. Daniel Sokol Janet McDavid & Eric Stock (Hogan Lovells) address New Horizontal Merger Guidelines Indicate Greater Scrutiny of High Tech and Pharmaceutical Transactions. ABSTRACT: On August 19, 2010, the Department of Justice and the Federal Trade Commission...

Monopolization Through Acquisitions in Multimarket Oligopolies

Posted on November 03, 2010
Posted by D. Daniel Sokol Amrita Ray Chaudhuri, Tilburg University - Center and Faculty of Economics and Business Administration, Tilburg Law and Economics Center (TILEC) explores Monopolization Through Acquisitions in Multimarket Oligopolies. ABSTRACT: This paper shows that, under Cournot competition,...

Interbank market integration, loan rates, and firm leverage

Posted on November 03, 2010
Posted by D. Daniel Sokol Steven Ongena (Tilburg University) and Alexander Popov (European Central Bank, Financial Research Division) discuss Interbank market integration, loan rates, and firm leverage. ABSTRACT: We study the effect of interbank market integration on small firm finance...

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Network Neutrality and Congestion Sensitive Content Providers: Implications for Service Innovation, Broadband Investment and Regulation

Posted on November 03, 2010
Posted by D. Daniel Sokol Jan Kraemer (Karlsruhe Institute of Technology, Institute of Information Systems and Management) and Lukas Wiewiorra (Karlsruhe Institute of Technology, Institute of Information Systems and Management) address Network Neutrality and Congestion Sensitive Content Providers: Implications for...

Technology Shocks in Multi-Sided Markets: The Impact of Craigslist on Local Newspapers

Posted on November 03, 2010
Posted by D. Daniel Sokol Robert Seamans (NYU Stern School of Business) and Feng Zhu (USC-Marshall School of Business) explain Technology Shocks in Multi-Sided Markets: The Impact of Craigslist on Local Newspapers. ABSTRACT: Theories of multi-sided markets suggest that a...

A Return to Von's Grocery?

Posted on November 03, 2010
Posted by D. Daniel Sokol John Harkrider (Axinn) asks if the new merger guidelines is ??A Return to Von's Grocery?

Annual Conference of the Association for Competition Economics 11th-12th November 2010

Posted on November 03, 2010
Posted by D. Daniel Sokol The details of the presentations for Annual Conference of the Association for Competition Economics (11th-12th November 2010) are now up on the web. See here for details for what looks to be a great conference.

Clinical Integration: The Balancing of Competition and Health Care Policies

Posted on November 02, 2010
Posted by D. Daniel Sokol Christi Braun (Ober Kaler) discusses Clinical Integration: The Balancing of Competition and Health Care Policies. ABSTRACT: The reason that clinical integration is a topic on which the Federal Trade Commission ("FTC") and the Department of...

Market-Share Contracts as Facilitating Practices

Posted on November 02, 2010
Posted by D. Daniel Sokol Roman Inderst (University of Frankfurt and Imperial College London) and Greg Shaffer (Rochester) address Market-Share Contracts as Facilitating Practices. ABSTRACT: This article investigates how the use of contracts that condition discounts on the share a...

Competition and Access Price Regulation with Multiple Networks

Posted on November 02, 2010
Posted by D. Dasniel Sokol Yan Liu, Monash College and Guang-Zhen Sun, Monash University - Department of Economics, Max Planck Institute for Research Into Economic Systems discuss Competition and Access Price Regulation with Multiple Networks. ABSTRACT:We develop a framework, extending...

Are Clinically Integrated Physician Networks Candy-Coated Cartels?

Posted on November 02, 2010
Posted by D. Daniel Sokol Gregory Pelnar (Compass Lexecon) asks Are Clinically Integrated Physician Networks Candy-Coated Cartels? ABSTRACT: Are "clinically integrated" physician networks that jointly contract with third-party payors such as Blue Cross little more than "candy-coated" cartels? If the...

An Opportunity for Reform of the U.K. Competition Regime

Posted on November 02, 2010
Posted by D. Daniel Sokol Antonio Bavasso & Simon Pritchard (Allen & Overy) suggest An Opportunity for Reform of the U.K. Competition Regime. ABSTRACT: The Government's spending review provides an opportunity to look strategically at possible reforms in U...

Are the New Guidelines Representational Art or Pop Art in the End?

Posted on November 02, 2010
Posted by D. Daniel Sokol Ilene Gotts (Wachtell) provides critical insights on the merger guidelines by asking Are the New Guidelines Representational Art or Pop Art in the End?

Collusion at the Extensive Margin

Posted on November 01, 2010
Posted by D. Daniel Sokol Martin C. Byford, RMIT University - School of Economics, Finance and Marketing and Joshua S. Gans, University of Melbourne - Melbourne Business School, University of Melbourne - Department of Economics describe Collusion at the Extensive...

The Cost of Death - Competition and Consumers in the Funerary Services Market

Posted on November 01, 2010
Posted by D. Daniel Sokol Francisco Marcos, Instituto de Empresa Business School describes The Cost of Death - Competition and Consumers in the Funerary Services Market. ABSTRACT: This book develops an economic and legal analysis on the Spanish funerary services...

Brand Loyalty, Generic Entry and Price Competition in Pharmaceuticals in the Quarter Century After the 1984 Waxman-Hatch Legislation

Posted on November 01, 2010
Posted by D. Daniel Sokol Ernst R. Berndt, MIT Sloan School of Management and Murray Aitken, Healthcare Insight, IMS Health observe Brand Loyalty, Generic Entry and Price Competition in Pharmaceuticals in the Quarter Century After the 1984 Waxman-Hatch Legislation...

Recidivism Revealed: Private International Cartels 1991-2009

Posted on November 01, 2010
Posted by D. Daniel Sokol John M. Connor Purdue University - Ag Econ discusses Recidivism Revealed: Private International Cartels 1991-2009. ABSTRACT: The objective of this paper is to look for empirical regularities in the sample of 389 recidivists that engaged...

Market Definition, the New Horizontal Merger Guidelines, and the Long March Away from Structural Presumptions

Posted on November 01, 2010
Posted by D. Daniel Sokol Deb Garza (Covington) provides some historical context to the merger guidelin discussion in her comment Market Definition, the New Horizontal Merger Guidelines, and the Long March Away from Structural Presumptions.

The Interplay Between Competition and Clinical Integration: Why the Antitrust Agencies Care About Medical Care Delivery Styles

Posted on October 30, 2010
Posted by D. Daniel Sokol Gregory Vistnes (CRA) discusses The Interplay Between Competition and Clinical Integration: Why the Antitrust Agencies Care About Medical Care Delivery Styles. ABSTRACT: The Affordable Care Act provides for the formation of Accountable Care Organizations ("ACOs")...

Competition Policy and Green Growth

Posted on October 30, 2010
Posted by D. Daniel Sokol The Nordic competition authorities have authored a new report on Competition Policy and Green Growth. 1. Executive Summary ...................................................................................................5 2...

ATM Direct Charging Reform: the Effect of Independent Deployers on Welfare

Posted on October 29, 2010
Posted by D. Daniel Sokol Jocelyn Donze and Isabelle Dubecy (both Toulouse School of Economics (GREMAQ)) discuss ATM Direct Charging Reform: the Effect of Independent Deployers on Welfare. ABSTRACT: In Australia, on the 3rd of March 2009, the interchange fees...

Market Power, Bank Megamergers, And the Welfare of Bank Borrowers

Posted on October 29, 2010
Posted by D. Daniel Sokol Donald R. Fraser, Texas A&M University - Department of Finance, James W. Kolari, Texas A&M University - Department of Finance, Seppo Pynnonen, University of Vaasa - Department of Mathematics and Statistics, and T. Kyle Tippens,...

Antitrust and Vertical Integration in ?New Economy? Industries

Posted on October 29, 2010
Posted by D. Daniel Sokol Bruce Owen (Stanford - Econ) addresses Antitrust and Vertical Integration in ?New Economy? Industries. ABSTRACT: Whether the firms that supply Internet hardware and software should face restrictions on the use of their property is an...

Does market concentration of downstream buyers squeeze upstream suppliers? market power?

Posted on October 29, 2010
Posted by D. Daniel Sokol Carlos F. Alves (CEF.UP, Faculdade de Economia, Universidade do Porto) and Cristina Barbot (CEF.UP, Faculdade de Economia, Universidade do Porto) ask Does market concentration of downstream buyers squeeze upstream suppliers? market power? ABSTRACT: Using a...

Give to Charity

Posted on October 29, 2010
Posted by D. Daniel Sokol There are lots of worthy charities. Judd Aptow directs a video about one that I believe deserves your contributions. See here.

Health Care Providers Payments Regulation when Horizontal and Vertical Differentiation Matter

Posted on October 28, 2010
Posted by D. Daniel Sokol David Bardey (Ecole Polytechnique de Paris, Toulouse School of Economics (GREMAQ) and University of Rosario (Bogota)), Chiara Canta (Toulouse School of Economics (GREMAQ)) and Jean-Marie Lozachmeur (Toulouse School of Economics (IDEI and GREMAQ-CNRS)) discuss Health...

The Antitrust Review of the Americas 2010

Posted on October 28, 2010
Posted by D. Daniel Sokol Dear Global Competition Review reader, We wanted to bring the latest edition of The Antitrust Review of the Americas to your attention. Leading competition lawyers and economists provide overviews and analysis of the main themes...

Joaquín Almunia speech to Businesseurope & US Chamber of Commerce Competition conference Brussels, 25 October 2010

Posted on October 28, 2010
Posted by D. Daniel Sokol The link is here. Commissioner Almunia's states that the Commission does not intend to reduce fines (or otherwise grant preferential treatment to companies) due to the existence of antitrust leniency programs ("the answer is no")...

Prosecution and Leniency Programs: a Fool's Game

Posted on October 28, 2010
Posted by D. Daniel Sokol Julien SAUVAGNAT discusses Prosecution and Leniency Programs: a Fool's Game. ABSTRACT: We present a model where the Antitrust Authority is privately informed about the strength of the case against a given cartel. In this context,...

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