Issue 2

June 2013

A Structural Approach to Market Definition with an Application to the Hospital Industry

Market definition is common in merger analysis, and often the decisive factor in antitrust cases.

The Effect of EU Antitrust Investigations and Fines on a Firm's Valuation

EU antitrust investigations involve a sequence of events which affect the investigated firm's market value. We model these relationships and estimate their impact on firms' share prices.

Entry in the ADHD drugs market: Welfare impact of generics and me-too's

Recent decades have seen a growth in treatments for attention deficit hyperactivity disorder (ADHD) including many branded and generic drugs.

A Dynamic Model of Auctions with Buy-It-Now: Theory and Evidence

In the ascending-price auctions with Yahoo!-type buy-it-now (BIN), we characterize and derive the closed-form solution for the optimal bidding strategy of the bidders and the optimal BIN price of the

Are Losers Picked? An Empirical Analysis of Capacity Divestment and Production Reallocation in the Japanese Cement Industry

As demand in an industry shrinks, pressure for the reduction of capacity arises. A key issue is whether plants which, from an efficiency perspective, should reduce output in fact do so.