In this paper, we study the adjustments made by National Regulatory Authorities to simple margin squeeze tests, in order to model a reasonably efficient operator. More precisely, by inspecting the possible differences between an entrant and an incumbent that would cause a market disadvantage for...

In this paper, we study the adjustments that National Regulatory Authorities make to simple margin squeeze tests, when using them ex-ante. More precisely, by inspecting the possible differences between an entrant and the incumbent that would cause a market disadvantage for the former, we provide...