The 2009 decision of the EU Commission imposing a €1.06 billion fine on Intel, and the subsequent judgment of the General Court (GC) upholding the decision have sparked an intense debate as to the way Article 102 TFEU should be applied. This On-Topic adds to the fervent discussion with...

This paper characterizes the degree of price discretion that competing organizations (principals) award to their sales managers (agents) and examines how such discretion is affected by principals' competitive conduct, market concentration, product substitutability, and demand volatility. We lay...

We analyse the adjustment of price and quantity of a durable good following a hypothetical cartel formation. We find that, under rational expectations of the users about the next period price of the second-hand good, the new steady state is characterised by the same price as would prevail in a...

We analyze the effects of downstream firms' acquisition of pure cash flow rights in an efficient upstream supplier when all firms compete in prices. With an acquisition, downstream firms internalize the effects of their actions on their rivals' sales. Double marginalization is enhanced. Whereas...