Estimating antitrust risk is fundamental to identifying, proposing, and pricing deals. A more informed understanding of what to expect when meeting with agency staff and leadership will help antitrust lawyers and economists (or other consultants) anticipate the critical questions and potential...

We extend the theory of bilateral vertical contracting to a double moral hazard setting where upstream and downstream firms make complementary investments that enhance demand, downstream firms make fixed investments to enter the downstream market, and contracts are private information and...

Due to a series of recent mergers, the number of legacy airlines in the United States has decreased from six to three. We conduct a comprehensive investigation of the effect on fares and output of these legacy airline mergers to determine whether the mergers have had an overall pro-competitive...

Guardado, Emmons, and Kane (2013) found that premiums in Nevada increased by 13.7 percent following the merger of United Healthcare and Sierra Health Services in 2008. Using methods similar to those used by Guardado et al., we study a series of more recent mergers to see if their results...

We extend the theory of bilateral vertical contracting to a double moral hazard setting where upstream and downstream firms make complementary investments that enhance demand, downstream firms make fixed investments to enter the downstream market, and contracts are private information and...

The importance of merger retrospectives as a way to assess competition policy is well-recognized. Yet there have been few retrospectives – none that we are aware of for any recent merger – that examine the accuracy of the predictions made by economic models used in the antitrust...