Category: Publications

Modelling the Objective Function of Managers in the Presence of Overlapping Shareholding

By Duarte Brito, Einer Elhauge, Ricardo Ribeiro, Helder Vasconcelos Expert Economist Helder Vasconcelos co-authored a paper with Duarte Brito, Einer Elhauge and Ricardo Ribeiro for the International Journal of Industrial Organization. The paper examines the objective function of managers in the presence of overlapping shareholding from both a theoretical and empirical perspective, with the findings … Continued

Decision Search Tool: Behind the Scenes

Written by Rashid Muhamedrahimov and Enrico Alemani [1] Introduction Software that provides powerful functionality can appear simple on the surface, but can hide plenty of fascinating technology. In this Data Science article, Rashid Muhamedrahimov and Enrico Alemani take a deep dive into the Compass Lexecon Decision Search Tool, an interactive web-app that allows users to … Continued

New Merger Guidelines Should Keep the Consumer Welfare Standard

Economists Mark Israel, Jonathan Orszag, and Jeremy Sandford authored an article for the November edition of the CPI Antitrust Chronicle discussing recent statements made by heads of the Federal Trade Commission and Department of Justice that suggest new merger guidelines may replace the tried-and-tested consumer welfare standard with alternate goals. Our experts express concern that … Continued

The Guide to Life Sciences: An Economist’s Perspective

Economists John Davies, Valérie Meunier, Rameet Sangha and David Sevy recently authored a chapter in the first edition of Global Competition Review’s The Guide to Life Sciences. Introduction This chapter addresses the following competition issues, from an economics perspective, as they relate to the pharmaceutical industry: exploitative abuse of a dominant position through excessive pricing; … Continued

Agency Fallibility and the Effect of Judicial Review in Competition Cases

Senior Managing Director, Jorge Padilla, recently authored an article for EU Law Live’s Competition Corner on the judicial review in competition cases and whether the appeal process reduces the cost of error. The job of an administrative agency when assessing a competition complaint is to produce a decision {infringement, no infringement} by assessing the complainant’s … Continued

A Missed Opportunity: The European Union’s New Powers Over Digital Platforms

Economists John Davies, Valérie Meunier, Gianmarco Calanchi and Angelos Stenimachitis recently authored an article for the US Antitrust Bulletin discussing the Digital Markets Act (DMA) and the missed opportunity by the European Commission (EC) to introduce a market investigation tool. The authors explore the DMA’s approach using the error cost framework, the consequences of restricting … Continued

Measuring of Competition Using Natural Language Processing

Written by Rashid Muhamedrahimov and Ethan Soo Summary As the competition landscape is constantly evolving, the question still remains: Is there a need to revamp the way we measure closeness of competition? There are many standardised ways to measure how close competitors are. We can supplement these measures with evidence that has traditionally been difficult … Continued

The Value of Transparency in Dynamic Contracting with Entry

Vice President, Salvatore Piccolo, alongside professors Gülen Karakoç and Marco Pagnozzi, wrote an article for the International Journal of Industrial Organization. The article investigates incentives and anticompetitive practices of incumbents in vertically related markets, as well as the effects of information sharing on consumer surplus and total welfare. Abstract A manufacturer designs a long-term contract … Continued

Expert Q&A on Competition Law and Sustainability

Economists Frederic Palomino, Soledad Pereiras and Nadine Watson participated in a Q&A with Financier Worldwide on competition law and sustainability. The authors discuss the key trends in sustainability initiatives in competition law, how authorities can strike a balance between promoting sustainability efforts and restricting anti-competitive practices, and how companies can assess potential harms and benefits … Continued