Showing 1 - 10 of 16
The statement “institutions matter” has become commonplace. A precondition for it to be supported by empirical evidence, is, however, that institutions are measurable. Glaeser et al. (2004) attacks many studies claiming to prove the relevance of institutions for economic development as being...
Persistent link: https://www.econbiz.de/10005014561
I argue that the rule of law consists of many dimensions and that much information is lost when variables proxying for these dimensions are simply aggregated. I draw on the most important innovations from various legal traditions to propose a concept of the rule of law likely to find general...
Persistent link: https://www.econbiz.de/10005014563
This article provides a model of two risk-neutral firms that may cooperate to achieve a goal that is potentially illegal. The model assumes enforcement risk and firms that are imperfectly informed about antitrust law enforcement. It is shown that compliance training, which educates the agents...
Persistent link: https://www.econbiz.de/10011096547
Firms’ search for external knowledge is one aspect of knowledge integration in the innovation process. The literature has investigated innovation and the breadth of search in different information channels. We introduce the concept of search balance reflecting the heterogeneity of a firm’s...
Persistent link: https://www.econbiz.de/10011114832
The relevant competitors in regard to innovation might, but not necessarily do, correspond to the identified competitors on actual product markets. Hence, the conventional analysis of product markets, in order to assess the potential anticompetitive effects of mergers, is insufficient to capture...
Persistent link: https://www.econbiz.de/10010734225
A merger between two innovation competitors is often suspected to reduce the variety of heterogeneous entities which are currently undertaking R&D or which are well situated to undertake R&D in a certain field. The consequential reduction of “diversity” can be detrimental to innovation...
Persistent link: https://www.econbiz.de/10010897842
In this empirical study all mergers that have been challenged by the U.S. antitrust agencies FTC and DOJ between 1995 and 2008 were analyzed in regard to the question to what extent and how the agencies assessed the innovation effects of mergers. Theoretical background is the still open question...
Persistent link: https://www.econbiz.de/10010941614
The firms that compete with one another in terms of innovation do not necessarily coincide with the relevant competitors on pre-innovation product markets. As a consequence, the findings about the ambiguous interrelation between (product) market concentration and innovation cannot be transferred...
Persistent link: https://www.econbiz.de/10010746942
Advances in competition economics as well as in computational and empirical methods have offered the scope for the employment of merger simulation models in merger control procedures during the past almost 15 years. Merger simulation is, nevertheless, still a very young and innovative instrument...
Persistent link: https://www.econbiz.de/10005652884
Advanced economic instruments like simulation models are enjoying an increased popularity in practical antitrust. There is hope that they – being quantitative predictive economic evidence – can substitute for qualitative structural analysis and lead to unambiguous results. This paper...
Persistent link: https://www.econbiz.de/10005652888