Price fixing ≈ Price fixing
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Learning to Coordinate: A Study in Retail Gasoline Open
This paper studies equilibrium selection in the retail gasoline industry. We exploit a unique dataset that contains the universe of station-level prices for an urban market for 15 years, and that encompasses a coordinated equilibrium trans…
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Antitrust and the Robo-Seller: Competition in the Time of Algorithms Open
Increasingly, firms are knitting together newly available mass data collection, Internet-driven interconnective power, and automated algorithmic selling with their traditional supply-chain and sales functions. Traditional sales functions s…
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Beef and Pork Marketing Margins and Price Spreads during <span>COVID</span>‐19 Open
COVID‐19‐related disruptions led to a historic rise in the spread between livestock and wholesale meat prices. Concerns about concentration and allegations of anticompetitive behavior have led to several inquiries and civil suits by the U.…
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Managing Cartels: how Cartel Participants Create Stability in the Absence of law Open
textabstractFirms enter cartels (e.g. price-fixing; bid-rigging) in order to control market uncertainties and gain collusive profits, but face challenges in controlling the cartel itself. A challenge for business cartels is how to organise…
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A Small Step from Price Competition to Price War: Understanding Causes, Effects and Possible Countermeasures Open
The first part of this paper describes the characteristics of price wars, pointing to recent examples that have caused a stir among the public as well as in the respective industries. A new, concise definition of the term price war is sugg…
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Search and Price Discrimination Online Open
I study limited price discrimination based on search costs. "Shoppers" have a zero and "nonshoppers" a positive search cost. A consumer faces a nondiscriminatory "common" price with some probability, or a discriminatory price. In equilibri…
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Remedies for algorithmic tacit collusion Open
There is growing evidence that tacit collusion can be autonomously achieved by machine learning technology, at least in some real-life examples identified in the literature and experimental settings. Although more work needs to be done to …
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The volume effect in cartel cases—a special challenge for damage quantification? Open
Cartel damage occurs in many different shapes. Actors that are beyond doubt heavily affected by a cartel agreement are the purchasers of the cartel—the direct same as the indirect ones. Economic insights teach us that they do not only suff…
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Financial Regulation in the (Receding) Shadow of Antitrust Open
Mounting evidence that a number of key industries in the U.S. economy have become less competitive in recent years is prompting a renewed national conversation about an enhanced role for antitrust enforcement. But there are limits on the a…
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Data Privacy in European Merger Control: Critical Analysis of Commission Decisions Regarding Privacy as a Non-Price Competition Open
In recent years, privacy has started to attract considerable attention in competition discussions, particularly in mergers involving data-rich industries. Prime examples of such mergers include Google/DoubleClick, Facebook/WhatsApp and the…
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THE RESALE PRICE MAINTENANCE CONTROVERSY: BEYOND THE CONVENTIONAL WISDOM Open
We studied the relation between prostaglandin analogue use and ocular adnexal features. We used a prospective, cross-sectional study involving 157 current, 15 past, and 171 never users of prostaglandin analogues. Patients 50 years of age o…
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Price Cutting and Business Stealing in Imperfect Cartels Open
Although economists have made substantial progress toward formulating theories of collusion in industrial cartels that account for a variety of fact patterns, important puzzles remain. Standard models of repeated interaction formalize the …
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The Rule of Reason and the Scope of the Patent Open
For a century and a half the Supreme Court has described perceived patent abuses as conduct that reaches "beyond the scope of the patent." That phrase, which evokes an image of boundary lines in real property, has been applied to both gove…
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Odds-wise view: Whose ideas prevail in the global integrity campaigns against match-fixing? Open
The global expansion of sports betting has resulted in the formation of (inter)national governing regimes aimed at sustaining revenue and regulating attendant issues, including match-fixing. This article explores the workings of these regi…
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UEFA and the Super League: who is calling who a cartel? Open
The football industry finds itself at a turning point. Through the recent rise and steep fall of the Super League, the concept of a super breakaway league in football is once again at the center of the discussions among football stakeholde…
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List Price Collusion Open
Firms sometimes collude by agreeing on increases in list prices. Yet, the efficacy of such list price collusion is subject to discussion as colluding firms might, in principle, deviate secretly from the elevated prices by granting their cu…
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Leniency in exchange for cartel confessions Open
Leniency offers corporations the possibility to come clean about their involvement in cartel conduct (for example, price-fixing, bid-rigging) in exchange for immunity or reduction of financial penalties. In Europe, nearly 60 percent of det…
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A Rule of Reason Approach to the Antitrust Issues of the Google Book Search Settlement Open
This paper examines, from an antitrust perspective, the recent controversy of the Google Book Search (GBS) settlement in its broader context of copyright collective administration. It argues that courts should view competitive concerns of …
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Price Algorithms as a Threat to Competition Under the Conditions of Digital Economy: Approaches to Antimonopoly Legislation of BRICS Countries Open
The authors examine certain legal problems of antitrust regulation in the digital economy facing the international community, including BRICS member countries. This article focuses on the problems associated with the use of price algorithm…
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Personalized Pricing as Monopolization Open
The advance of the information age will allow firms to engage in personalized pricing, a form of price discrimination that is profitable for firms, but unambiguously harmful to consumers. Antitrust can protect consumers from personalized p…
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Hub-and-Spoke Cartels Open
The first comprehensive economic and legal analysis of hub-and-spoke cartels, with detailed case studies. A cartel forms when competitors conspire to limit competition through coordinated actions. Most cartels are composed exclusively of f…
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Legal Principles in Antitrust Enforcement Open
We study antitrust enforcement that aims to channel price‐fixing incentives of cartels through setting fine schedules and detection levels. Fines obey legal principles, such as the punishment should fit the crime, proportionality, bankrupt…
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Reshaping Digital Competition: The New Platform Regulations and the Future of Modern Antitrust Open
This article reflects on the way in which the new initiatives to regulate powerful online platforms in the European Union, the United States, the United Kingdom, and Germany challenge well-established fundamentals of modern antitrust and t…
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A Proposal for a Structural Remedy for Illegal Collusion Open
It is proposed that competition authorities use a structural remedy for some convicted cartels. The remedy would have cartel member(s) sell productive assets such as capacity to other firms for the purpose of making the market more competi…
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Price Discrimination-Driven Algorithmic Collusion: Platforms for Durable Cartels Open
Algorithmic competition has arrived. With it has come the specter of algorithmic collusion – rapid detection of co-conspirators’ defection via technologically enhanced price monitoring and setting capability can encourage anticompetitive c…
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Dilemma in antitrust enforcement: how use of economics can guide enforcement rules in multi-sided markets Open
Journal Article Dilemma in antitrust enforcement: how use of economics can guide enforcement rules in multi-sided markets Get access Gaurav Jakhu, Gaurav Jakhu *Gaurav Jakhu, Research Fellow, Indian Statistical Institute, Delhi Centre, Ind…
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Puzzles in the Forex Tokyo “Fixing”: Order Imbalances and Biased Pricing by Banks Open
Fixing" in the foreign exchange market is a market practice that determines the bid-ask-midpoint exchange rate at a scheduled time, 10am in Tokyo and 4pm in London.The fixing exchange rate is then applied to the settlement of foreign excha…
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The Limits of Online Price Discrimination in Europe Open
As big data capabilities have increased, so too has the potential for price discrimination. Price discrimination occurs when sellers offer goods and services at different prices to different consumers. Profiles of consumers can be created …
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Modifying Merger Consent Decrees: An Economist Plot to Improve Merger Enforcement Policy Open
This short article analyzes a proposal that merger consent decrees should include a review and modification provision that would give the agency the ability to petition the court to order further relief if the consent decree fails to prese…
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Suppliers to a sellers’ cartel and the boundaries of the right to damages in U.S. versus EU competition law Open
While customer damage claims against price-cartels receive much attention, it is unresolved to what extent other groups that are negatively affected may claim compensation. This paper focuses on probably the most important one, suppliers t…