Download or read book Evaluating the Performance of Merger Simulation written by Craig Peters and published by . This book was released on 2003 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Evaluating the Performance of Merger Simulation written by Craig Peters and published by . This book was released on 2003 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Evaluating the Performance of Merger Simulation written by Yaa Akosa Antwi and published by . This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Antitrust enforcement in the hospital industry has been an area of sharp contention in recent years. Prior to the decision in the Evanston Northwestern case in 2005, the Federal Trade Commission and the United States Department of Justice had lost the last seven hospital cases. One of the reasons for the failure of the government to prevail in these court cases has been their inability to convince the courts to accept their definition of a geographic market. In reviewing mergers, the antitrust enforcement authorities seek to determine what effects the proposed merger would have on prices, quality, and other related aspects of the prospectively merging firms' services. Most commonly, the primary focus is on the effect of the prospective merger on prices. There are a number of different approaches to the evaluation of hospital mergers, and these approaches often lead to differing predictions about the effects of the merger on hospital prices. In this paper we propose a method of hospital merger analysis which relies, in part, on calculating an index of hospital competition called the Logit Competition Index (LOCI). LOCI is calculated using hospital discharge data. Using these data, discharges are organized into types, the market shares of the hospitals in the analysis are calculated within these types, and then these market shares are aggregated together into a numerical index. Changes in this index due to a merger are theorized to predict the price changes caused by the merger. Consequently, our methodology does not require the definition of a geographical market. We apply our method to simulate merger effects of consummated and hypothetical mergers using data of hospitals in the state of California from 1992 to 2004. We find that the wave mergers that happened in California in the 1990's led to substantial increase in price not only for merging firms but also non-merging firms. Finally, because of the long span of our data, we are able to compare our predicted price increase with actual price increase of consummated mergers. Our methodology predicts well actual changes in price due to merger. These results have important implications for merger analysis in hospital markets and also for antitrust enforcement. It presents antitrust authorities with a methodology does not rely on geographic market definition but predicts fairly well price increases due to mergers.

Download or read book Do Merger Simulation and Critical Loss Analysis Differ Under the SLC and Dominance Test written by Ioannis Kokkoris and published by . This book was released on 2017 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this article we will evaluate whether the application and the efficiency of two types of empirical analysis in the assessment of mergers in jurisdictions applying the dominance and the SLC tests are different due to the application of the different legal substantive test. Thus, we will consider whether the different legal substantive test leads to different application of the empirical analysis or to different assessment of mergers leading to non-coordinated effects by courts, based on the same empirical analysis.We will address two methods of empirical analysis that concern two essential stages in the assessment of a merger. One such type of empirical analysis refers to the assessment of the unilateral effects of the merger on competition and one that is used in the definition of the relevant market. These two methods are the merger simulation and the critical loss analysis respectively. We will investigate their theoretical background and see how these two methods are applied in practice in cases brought before courts in jurisdictions applying the dominance test and the SLC test. The jurisdictions we will focus in this article are the USA and the European Union. The next part of this article briefly deals with the SLC and the dominance test. The second part of this article deals with the mechanics and the case law behind the two above-mentioned empirical methods. Finally, in the last part of this article we will evaluate whether the methodology behind merger simulation, used in the evaluation of the competitive effects, and critical loss analysis, used in market definition, varies depending on the substantive test that competition authorities apply to assess mergers.

Download or read book Simulation as an Alternative to Structural Merger Policy in Differentiated Products Industries written by Gregory Werden and published by . This book was released on 1995 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Predicting the Competitive Effects of Mergers by Listening to Customers written by Kenneth Heyer and published by . This book was released on 2006 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Upward Price Pressure Merger Simulation and Merger Simulation Light written by Michael D. Noel and published by . This book was released on 2015 with total page 8 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Federal Trade Commission and the Antitrust Division of the Department of Justice have traditionally used market shares as an early preliminary screen in evaluating the potential for anticompetitive effects of a proposed merger. Recently, Farrell and Shapiro proposed a new merger screen known as Upward Price Pressure. This article discusses the advantages and disadvantages of this screen, contrasts it to more complicated full merger simulations, and ultimately suggests a merger simulation light approach that has elements of both and that may be more useful in the very early stages of analysis.

Download or read book Ex Post Economic Evaluation of Competition Policy written by Fabienne Ilzkovitz and published by Kluwer Law International B.V.. This book was released on 2020-05-18 with total page 546 pages. Available in PDF, EPUB and Kindle. Book excerpt: Competition authorities are increasingly interested in understanding the impact of their activities on markets and consumers. The goal is to improve competition policy rules and decision-making practices and to get robust evidence on the benefits of competition and competition policy for society as a whole. Discussions with competition authorities, practitioners and academics have shown the need to take stock of the experience gained in this field by the European Commission and to present it in an easily accessible way. The studies collected in this volume – prepared by senior Commission officials and competition policy experts – range from the ex post evaluation of specific policy interventions to the assessment of the broader impact of competition policy. The issues and topics examined include the following: objectives and scope of evaluations by the European Commission; description of counterfactual evaluation techniques used; conditions for a successful ex post evaluation of a competition policy intervention; a wide selection of individual cases covering a variety of economic sectors; applications in merger control, antitrust and State aid; direct benefits of competition policy interventions for consumers; deterrent effects of such interventions on market participants; and macroeconomic outcomes in terms of job creation, productivity and GDP growth. This matchless book assembles within a single volume all that is needed for competition policy analysts and practitioners to undertake ex post economic evaluations. While its collection of state-of-the-art ex post evaluation studies has a clear value for competition authorities, it is sure to be welcomed as well by competition law practitioners in the private sector, who will greatly appreciate the effort made to cast a critical eye on decisions taken in the past. Moreover, it allows for addressing some of the new challenges facing competition policymakers. Fabienne Ilzkovitz is Principal Advisor responsible for the economic evaluation of competition policy within the Directorate-General for Competition of the European Commission, and since 2014, she has coordinated various ex post evaluation projects in the Directorate-General. She is also Associate Professor of Economics in the Solvay Brussels School of Economics and Management at the Université Libre de Bruxelles, Belgium. Adriaan Dierx is Senior Expert on ex post economic evaluation within the Directorate-General for Competition of the European Commission. He has managed a number of studies aimed at assessing the economic impact of the European Commission’s competition policy interventions.

Download or read book Merger Simulation written by Roy Jacob Epstein and published by . This book was released on 2001 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Modelling European Mergers written by Peter A. G. van Bergeijk and published by Edward Elgar Publishing. This book was released on 2005-01-01 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: Modelling European Mergers presents a comprehensive and fresh perspective on the economic analysis of mergers by leading academics and competition policymakers from Europe and the US. The book frankly discusses the pro's and con's of using applied game theory models in merger control from a historical and theoretical perspective. Seven case studies on the actual use of advanced techniques and models in legal procedures provide a perspective from the national competition authorities in Belgium, Denmark, Italy. The Netherlands and Sweden on markets that range from basic goods such as bread and aperitifs to complex products such as electricity, literature and software. The case studies provide many insights into practical issues such as data collection, procedures and errors of predication, as well as in the relative merits of different econometric approaches. A recurring theme of the book is how economic insights insights can be translated into convincing legal decisions.

Download or read book Mergers Merger Control and Remedies written by John Kwoka and published by MIT Press. This book was released on 2015 with total page 283 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive analysis of merger outcomes based on all empirical studies, with an assessment of the effectiveness of antitrust policy toward mergers. In recent decades, antitrust investigations and cases targeting mergers—including those involving Google, Ticketmaster, and much of the domestic airline industry—have reshaped industries and changed business practices profoundly. And yet there has been a relative dearth of detailed evaluations of the effects of mergers and the effectiveness of merger policy. In this book, John Kwoka, a noted authority on industrial organization, examines all reliable empirical studies of the effect of specific mergers and develops entirely new information about the policies and remedies of antitrust agencies regarding these mergers. Combined with data on outcomes, this policy information enables analysis of, and creates new insights into, mergers, merger policies, and the effectiveness of remedies in preventing anticompetitive outcomes. After an overview of mergers, merger policy, and a common approach to merger analysis, Kwoka offers a detailed analysis of the studied mergers, relevant policies, and chosen remedies. Kwoka finds, first and foremost, that most of the studied mergers resulted in competitive harm, usually in the form of higher product prices but also with respect to various non-price outcomes. Other important findings include the fact that joint ventures and code sharing arrangements do not result in such harm and that policies intended to remedy mergers—especially conduct remedies—are not generally effective in restraining price increases. The book's uniquely comprehensive analysis advances our understanding of merger decisions and policies, suggests policy improvements for competition agencies and remedies, and points the way to future research.

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 Industrial Organization written by Paul Belleflamme and published by Cambridge University Press. This book was released on 2015-07-30 with total page 827 pages. Available in PDF, EPUB and Kindle. Book excerpt: Thoroughly revised according to classroom feedback, Industrial Organization: Markets and Strategies offers an up-to-date and rigorous presentation of modern industrial organization that blends theory with real-world applications and derives implications for firm strategy and competition policy. This comprehensive textbook acquaints readers with the most important models for understanding strategies chosen by firms with market power and shows how such firms adapt to different market environments. The second edition includes new and revised formal models and case studies. Formal models are presented in detail, and analyses are summarized in 'lessons' which highlight the main insights. Theories are complemented by numerous real-world cases that engage students and lead them to connect theories to real situations. Chapters include review questions, exercises, and suggestions for further reading to enhance the learning experience, and an accompanying website offers additional student exercises, as well as teaching slides.

Download or read book Prospects and Limits of Merger Simulations as a Computational Antitrust Tool written by Oliver Budzinski and published by . This book was released on 2022 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Pricing Behaviour and Non Price Characteristics in the Airline Industry written by James Peoples and published by Emerald Group Publishing. This book was released on 2012-01-03 with total page 428 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provokes the reader to think critically about the emergence of corporate styles of governance, management and leadership in higher education institutions (HEIs) and ways in which the demands of public management and the knowledge economy has shaped and re-shaped scholarly work and identity.

Download or read book The Industrial Organization of Banking written by David VanHoose and published by Springer. This book was released on 2017-05-08 with total page 303 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book aims to provide a thoroughly updated overview and evaluation of the industrial organization of banking. It examines the interplay among bank behavior, market structure, and regulation from the perspective of a variety of public policy issues, including bank competition and risk, market discipline, antitrust issues, and capital regulation. New to this edition are discussions of the economic foundations of international banking, macroprudential regulation, and international coordination of banking policies. The book can serve as a learning tool and reference for graduate students, academics, bankers, and policymakers with interests in the industrial organization of the banking sector and the impacts of banking regulations.

Download or read book Coupon Remedies in Antitrust Cases written by Fred Gramlich and published by . This book was released on 2003 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: