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Merger control authorities may approve a merger based on a so-called “efficiency defence”. An important aspect in clearing mergers is that the efficiencies need to be merger-specific. Joint ventures, and in particular research joint ventures (RJVs), may achieve comparable efficiencies...
Persistent link: https://www.econbiz.de/10012951289
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Recent experimental simulations have shown that autonomous pricing algorithms are able to learn collusive behavior and thus charge supra-competitive prices without being explicitly programmed to do so. These simulations assume, however, that both firms employ the identical price-setting...
Persistent link: https://www.econbiz.de/10013546665
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We investigate the impact of search order distortion by a vertically integrated platform that intermediates the products of a third-party seller as well as its own product. The platform can steer consumers to search for its own product first. We show that the effects of search order distortion...
Persistent link: https://www.econbiz.de/10013248377
Recent experimental simulations have shown that autonomous pricing algorithms are able to learn collusive behavior and thus charge supra-competitive prices without being explicitly programmed to do so. These simulations assume, however, that both firms employ the identical price-setting...
Persistent link: https://www.econbiz.de/10013534374
We study the effects of property rights over the use of data on market outcomes. For this, we consider a model in which a monopolistic firm offers a service to a set of heterogeneous users. Usage generates valuable data but data extraction entails a privacy cost to users. We show that both the...
Persistent link: https://www.econbiz.de/10012848598
We study communication in a static Cournot duopoly model under the assumption that the firms have unverifiable private information about their costs. We show that cheap talk between the firms cannot transmit any information. However, if the firms can communicate through a third party,...
Persistent link: https://www.econbiz.de/10010292012
This note reconsiders communication between an informed expert and an uninformed decision maker with a strategic mediator in a discrete Crawford and Sobel (1982) setting. We show that a strategic mediator may improve communication even when he is biased into the same direction as the expert. The...
Persistent link: https://www.econbiz.de/10010307664
We study the effects of preselection on an expert's incentive to give truthful advice in a decision environment in which certain decisions yield more precise estimates about the expert's expertise. The introduction of a preselection stage, in which the decision maker can study the case before...
Persistent link: https://www.econbiz.de/10011348236