Corporate & Securities Law

Exploding Offers and Buy-Now Discounts

Posted on November 19, 2010
Posted by D. Daniel Sokol Mark Armstrong and Jidong Zhou (both UCL - Econ) discuss Exploding Offers and Buy-Now Discounts. ABSTRACT: A common sales tactic is for a seller to encourage a potential customer to make her purchase decision quickly....

Sorting versus screening: search frictions and competing mechanisms

Posted on November 19, 2010
Posted by D. Daniel Sokol Jan Eeckhout and Philipp Kircher (both UPenn - Econ) address Sorting versus screening: search frictions and competing mechanisms. ABSTRACT: In a market where sellers compete by posting trading mechanisms, we allow for a general search...

The 2010 Merger Guidelines: Do We Need Them? Are They All We Need?

Posted on November 19, 2010
Posted by D. Daniel Sokol Gregory Leonard (NERA) asks The 2010 Merger Guidelines: Do We Need Them? Are They All We Need? ABSTRACT: The release of the 2010 Merger Guidelines was largely an anticlimax. Unlike the 1982 and 1992 Merger...

Thy Lamp Unto the World: International Convergence After the 2010 Guidelines

Posted on November 18, 2010
Posted by D. Daniel Sokol William Blumenthal (Clifford Chance) explains Thy Lamp Unto the World: International Convergence After the 2010 Guidelines. ABSTRACT: Those of us who practice competition law globally and who engage in international technical assistance are regularly struck...

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Partial collusion with asymmetric cross-price effects

Posted on November 18, 2010
Posted by D. Daniel Sokol Luca Savorelli (University of Bologna - Econ) explains Partial collusion with asymmetric cross-price effects. ABSTRACT: Asymmetries in cross-price elasticities have been demonstrated by several empirical studies. In this paper we study from a theoretical stance...

Managerial Incentives and Stackelberg Equilibria in Oligopoly

Posted on November 18, 2010
Posted by D. Daniel Sokol Marcella Scrimitore (University of Salento - Econ) explores Managerial Incentives and Stackelberg Equilibria in Oligopoly. ABSTRACT: The paper investigates both quantity and price oligopoly games in markets with a variable number of managerial and entrepreneurial...

2010 Horizontal Merger Guidelines: Changes in Policy, Transparency, & Predictability

Posted on November 18, 2010
Posted by D. Daniel Sokol James Langenfeld (Navigant Economics) discusses 2010 Horizontal Merger Guidelines: Changes in Policy, Transparency, & Predictability. ABSTRACT: The Federal Trade Commission ("FTC") and the Department of Justice ("DOJ") issued revised Horizontal Merger Guidelines ("HMGs") on August...

The Dali Lama Was Within 100ft of Our Antitrust Conference

Posted on November 18, 2010
Posted by D. Daniel Sokol The Dali Lama was speaking next door to our antitrust conference. Many of our antitrust conference participants got to see him walk by. Some people who were there to see the Dali Lama mistook Maarten...

Developments in Cable Broadband Networks

Posted on November 17, 2010
Posted by D. Daniel Sokol Hyun-Cheol Chung (OECD) describes Developments in Cable Broadband Networks. ABSTRACT: The position of cable operators within the pay TV market has changed drastically in recent years. Although video service remains core to the cable industry?s...

Lost in Translation - Antitrust Edition

Posted on November 17, 2010
Posted by D. Daniel Sokol I am in New Delhi for the excellent conference that Ioannis Lianos and I have organized (see here). Unfortunately, with New Delhi ten and a half hours ahead, I cannot seem to fall asleep on...

The Effect of Economic Crises on Antitrust Policy

Posted on November 17, 2010
Posted by D. Daniel Sokol Marina Lao, Seton Hall School of Law provides an Editor?s Note: Symposium on the Effect of Economic Crises on Antitrust Policy. ABSTRACT: Viewed narrowly, there is little connection between antitrust policy and the 2008 financial...

The Framework of the 2010 Horizontal Merger Guidelines

Posted on November 17, 2010
Posted by D. Daniel Sokol Paul Denis (Dechert) discusses The Framework of the 2010 Horizontal Merger Guidelines. ABSTRACT: The two principal reasons that the 1992 Horizontal Merger Guidelines achieved longevity, judicial acceptance, and international imitation were: (1) for the most...

Illustrations of Price Discrimination in Baseball

Posted on November 17, 2010
Posted by D. Daniel Sokol Daniel A. Rascher, University of San Francisco and Andrew D. Schwarz, OSKR, LLC provide Illustrations of Price Discrimination in Baseball. ABSTRACT: Price discrimination of this nature, focused on differing degrees of quality, bundled goods, volume...

Consumer demand for variety: intertemporal effects of consumption, product switching and pricing policies

Posted on November 16, 2010
Posted by D. Daniel Sokol Ricardo Ribeiro (LSE) has posted Consumer demand for variety: intertemporal effects of consumption, product switching and pricing policies. ABSTRACT: The concept of diminishing marginal utility is a cornerstone of economic theory...

WARNING: Improper Use of the New Horizontal Merger Guidelines Can Result in Overly Narrow Markets, Mistaken Inferences of Market Power, and Wrong-Headed Analyses

Posted on November 16, 2010
Posted by D. Daniel Sokol Michael Doane (Competition Economics), Luke Froeb & Steven Tschantz (Vanderbilt University) provide a WARNING: Improper Use of the New Horizontal Merger Guidelines Can Result in Overly Narrow Markets, Mistaken Inferences of Market Power, and Wrong-Headed...

Multimarket linkages, buyer power, and the productivity puzzle

Posted on November 16, 2010
Posted by D. Daniel Sokol Noriaki Matsushim, Institute of Social and Economic Research, Osaka University and Laixun Zhao, Research Institute of Economics and Business, Kobe University explore Multimarket linkages, buyer power, and the productivity puzzle...

Competition in Mobile Telephony in France and Germany

Posted on November 16, 2010
Posted by D. Daniel Sokol Lukasz Grzybowski, University of Cape Town (UCT) and Chiraz Karamti, Telecom Bretagne analyze Competition in Mobile Telephony in France and Germany. ABSTRACT: This paper analyses the development of mobile telephony in France and Germany in...

Horizontal mergers with synergies: first-price vs. profit-share auction

Posted on November 15, 2010
Posted by D. Daniel Sokol Wei Ding (University of Bonn), Cuihong Fan (Shanghai University of Finance and Economics), Elmar G. Wolfstetter (Humboldt University of Berlin) address Horizontal mergers with synergies: first-price vs. profit-share auction. ABSTRACT: We consider takeover bidding in...

Merger Simulations with Observed Diversion Ratios

Posted on November 15, 2010
Posted by D. Daniel Sokol Lars Mathiesen, Norwegian School of Economics and Business Administration (NHH), Øivind Anti Nilsen, Norwegian School of Economics and Business Administration (NHH) - Department of Economics, Institute for the Study of Labor (IZA), and Lars Sorgard,...

Antitrust Compliance: Perspectives and Resources for Corporate Counselors, 2nd Edition

Posted on November 15, 2010
Posted by D. Daniel Sokol Antitrust Compliance: Perspectives and Resources for Corporate Counselors, 2nd Edition Includes CD-ROM Product Code: 5030553 Publication Date: October 31, 2010 ISBN: 978-1-60442-896-4 Page Count: 240 Trim Size: 8-1/2 x 11 Sponsoring Entities: Section of Antitrust...

Competition and cost pass-through in differentiated oligopolies

Posted on November 15, 2010
Posted by D. Daniel Sokol Iñaki Aguirre (Departamento de Fundamentos del Análisis Económico I, University of the Basque Country), Simon Cowan (Department of Economics, University of Oxford), and John Vickers (All Souls, University of Oxford) analyze Competition and cost pass-through...

Continuity and Change in the 2010 Merger Guidelines

Posted on November 15, 2010
Posted by D. Daniel Sokol Malcolm B. Coate (FTC) & Joseph J. Simons (Paul, Weiss) describe Continuity and Change in the 2010 Merger Guidelines. ABSTRACT: For almost 30 years, the U.S. antitrust enforcement agencies have described a structured, step-by-step analytical...

UK competition law in an evolving landscape

Posted on November 14, 2010
Posted by D. Daniel Sokol Following on from the planned OFT and Competition Commission merger, the UK should expect a more pro-active and tougher competition policy. Join us to discuss this and other key competition law developments in the UK...

The Indian Competition Act: An Overview and Preliminary Analysis

Posted on November 13, 2010
Posted by D. Daniel Sokol Achintya Nath Sexena, Rajiv Gandhi School of Intellectual Property Law, IIT-Kharagpur discusses The Indian Competition Act: An Overview and Preliminary Analysis. ABSTRACT: The newly enacted (2002), and partially implemented Competition Act of India marks a...

Merger Simulation in a Two-Sided Market: The Case of the Dutch Daily Newspapers

Posted on November 12, 2010
Posted by D. Daniel Sokol Lapo Filistrucchi, Department of Economics, CentER & TILEC, Tilburg University, Dipertimento di Scienze Economiche, University of Florence; Tobias J. Klein, Tilburg University, Tilburg University - Center for Economic Research (CentER), Institute for the Study of...

Competition and cost pass-through in differentiated oligopolies

Posted on November 12, 2010
Posted by D. Daniel Sokol Paul R. Zimmerman and Julie A. Carlson (both FTC) Competition and cost pass-through in differentiated oligopolies. The impact that competition exerts on the incentives of firms to pass through reductions in their marginal costs is...

Imperfect Platform Competition: A General Framework

Posted on November 12, 2010
Posted by D. Daniel Sokol Alexander White, Harvard University Department of Economics and E. Glen Weyl, Harvard University - Society of Fellows, Toulouse School of Economics discuss Imperfect Platform Competition: A General Framework. ABSTRACT: We propose a general model of...

The High Economic Costs of Cartels: Can Private Enforcement Help?

Posted on November 11, 2010
Posted by D. Daniel Sokol John Connor (Purdue Ag Econ) asks The High Economic Costs of Cartels: Can Private Enforcement Help? ABSTRACT:This chapter examines anti-cartel enforcement in selected jurisdictions around the world, paying particular attention to the role of private...

Network Effects in Alternative Fuel Adoption: Empirical Analysis of the Market for Ethanol

Posted on November 11, 2010
Posted by D. Daniel Sokol Scott K. Shriver (Stanford - Graduate School of Business) discusses Network Effects in Alternative Fuel Adoption: Empirical Analysis of the Market for Ethanol. ABSTRACT: This paper investigates the importance of network e¤ects in the demand...

Merger Policy and the 2010 Merger Guidelines

Posted on November 11, 2010
Posted by D. Daniel Sokol Herb Hovenkamp (Iowa Law) explains Merger Policy and the 2010 Merger Guidelines. ABSTRACT: New Horizontal Merger Guidelines were issued jointly by the Antitrust Division and the Federal Trade Commission in August, 2010, replacing Guidelines issued...

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