Download or read book Pass Through of Cost Reductions in Open Auction Markets with Application to Merger Effects written by Keith Waehrer and published by . This book was released on 2019 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Here we analyze how, in an open procurement auction, cost reductions among suppliers bidding to sell to a buyer affect the payoffs to the buyer and suppliers. When a single supplier enjoys a reduction in cost, its increase in expected payoff is equal to the expected increase in total surplus from the cost reduction. The buyer benefits not by capturing a portion of the increase in surplus but instead gains at the expense of the suppliers who do not enjoy the cost decrease. The buyer's benefit from a cost decrease, increases in the concentration among the suppliers who do not enjoy the cost decrease. These results have implications for vertical integration and merger analysis. Increases in concentration increase the incentive of buyers who are integrated upstream to make cost reducing investments in the supply of the good while the investment incentives of non-integrated suppliers remain unchanged. In terms of merger analysis these results suggest that pass through of merger specific cost savings will be higher if the non-merging firms in the market are more concentrated. In addition, mergers increase the incentives for vertically integrated sellers to make cost reducing investments, which may serve to mitigate the anticompetitive effects of a merger.
Download or read book The Effects of Mergers in Open Auction Markets written by Keith Waehrer and published by . This book was released on 2001 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Effects of Mergers in Open Auction Markets written by Keith Waehrer and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Mergers in Symmetric and Asymmetric Noncooperative Auction Markets written by Serdar Dalkir and published by . This book was released on 2019 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: United States antitrust merger analysis has recently focused on simulating the unilateral effects of mergers. We develop a model to simulate the unilateral price increase from a merger in an auction market. We illustrate our results in the context of hospital mergers in the U.S., and calibrate our simulations to known market parameters.We compare the price increases in our model to those suggested by analytically simpler models. The simulation results suggest that the unilateral price increases predicted by our model are modest in general. We also simulate the merger cost savings that are needed to offset the price effects.
Download or read book The Empirical Evidence on the Pass Through of Firm Specific Cost Changes to Prices written by Simon Evenett and published by . This book was released on 2008 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mergers and acquisitions represent two important means by which resources are reallocated within capitalist economies. Such combinations can result in lower costs of supply, which are often referred to as efficiencies. However, mergers and acquisitions can also result in the greater exercise of market power by the parties concerned. The latter typically results in higher prices while (marginal or incremental) cost reductions may have the opposite effect. Central to the assessment of the overall likely effect of a merger or acquisition on prices is the extent to which any potential cost reductions of the parties are passed on to customers, the so-called cost pass-through rate. The emphasis in many jurisdictions' merger regulations on combination-specific cost efficiencies and on consumer welfare in evaluating proposed trans-actions puts at a premium our understanding of the degree and determinants of firm-specific cost pass-through to prices. The purpose of this chapter is to describe the available evidence on such pass-through and to consider the implications of this evidence for the conduct of merger reviews.
Download or read book Federal Energy Regulatory Commission Reports written by United States. Federal Energy Regulatory Commission and published by . This book was released on 2000 with total page 1642 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Competition Policy Analysis written by Kai Hüschelrath and published by Springer Science & Business Media. This book was released on 2008-09-08 with total page 532 pages. Available in PDF, EPUB and Kindle. Book excerpt: Competition policy is an integral and prominent part of economic policy-making in the European Union. The EU Treaty prescribes its member states to conduct economic policy ‘in accordance with the principle of an open market economy with free competition’. More precisely, the goal of EU competition policy is “to defend and develop effective competition in the common market” (European Commission, 2000: 7). Under its Commissioners van Miert, Monti and, most - cently, Kroes the EU Commission has stepped up its effort to pursue and achieve the aforementioned goal. A number of so-called hard-core cartels, such as the - torious “vitamin cartel” led by Roche, have been detected, tried in violation of Art. 81 of the Maastricht Accord and punished with severe fines. Also Microsoft was hit hard by the strong hand of the Commission having been severely fined for - ploiting a dominant market position. Economic analysis has been playing an increasingly significant role in the Commission’s examination of competition law cases. This holds true in particular for merger control. Here, however, the Commission has had to accept some poi- ant defeats in court, such as the Court’s reversals of Airtours-First Choice or GE- Honeywell. Among other things, the European Court of Justice found the e- nomic analysis as conducted by the EU’s Directorate General for Competition to be flawed and the conclusions drawn not to be convincing. These rejections by the courts have stirred up the scholarly debate on the conceptual foundations of Eu- pean competition policy.
Download or read book The Antitrust Paradox written by Robert Bork and published by . This book was released on 2021-02-22 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most important book on antitrust ever written. It shows how antitrust suits adversely affect the consumer by encouraging a costly form of protection for inefficient and uncompetitive small businesses.
Download or read book Handbook of Research on Telecommunications Planning and Management for Business written by Lee, In and published by IGI Global. This book was released on 2009-03-31 with total page 1211 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book provides original, in-depth, and innovative articles on telecommunications policy, management, and business applications"--Provided by publisher.
Download or read book Competitive Electricity Markets written by Fereidoon Sioshansi and published by Elsevier. This book was released on 2011-10-10 with total page 625 pages. Available in PDF, EPUB and Kindle. Book excerpt: After 2 decades, policymakers and regulators agree that electricity market reform, liberalization and privatization remains partly art. Moreover, the international experience suggests that in nearly all cases, initial market reform leads to unintended consequences or introduces new risks, which must be addressed in subsequent “reform of the reforms. Competitive Electricity Markets describes the evolution of the market reform process including a number of challenging issues such as infrastructure investment, resource adequacy, capacity and demand participation, market power, distributed generation, renewable energy and global climate change. Sequel to Electricity Market Reform: An International Perspective in the same series published in 2006 Contributions from renowned scholars and practitioners on significant electricity market design and implementation issues Covers timely topics on the evolution of electricity market liberalization worldwide
Download or read book Saward s Journal written by and published by . This book was released on 1927 with total page 494 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Code of Federal Regulations of the United States of America written by and published by . This book was released on 1976 with total page 788 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Code of Federal Regulations is the codification of the general and permanent rules published in the Federal Register by the executive departments and agencies of the Federal Government.
Download or read book Code of Federal Regulations written by and published by . This book was released on 1980 with total page 494 pages. Available in PDF, EPUB and Kindle. Book excerpt: Special edition of the Federal Register, containing a codification of documents of general applicability and future effect ... with ancillaries.
Download or read book FCC Record written by United States. Federal Communications Commission and published by . This book was released on 2008 with total page 824 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Digest of Public General Bills and Resolutions written by Library of Congress. Congressional Research Service and published by . This book was released on 1979 with total page 1174 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Hearing on H R 4211 before the Investigations Subcommittee of the Committee on Armed Services House of Representatives Ninety seventh Congress first session July 30 1981 written by United States. Congress. House. Committee on Armed Services. Subcommittee on Investigations and published by . This book was released on 1981 with total page 774 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book International Capital Markets written by International Monetary Fund and published by International Monetary Fund. This book was released on 1997-12-08 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides a comprehensive survey of recent developments in international financial markets, including developments in emerging capital markets, bond markets, major currency markets, and derivative markets. The report focuses on efforts by the major industrial countries to strengthen the management of financial risk and prundential oversight over the international banking system. It also critically evaluates existing mechanisms for international cooperation of financial supervision and regulation and proposes the development of international banking standards.
