This book combines practical guidance and theoretical background for analysts using empirical techniques in competition and antitrust investigations. Peter Davis and Eliana Garcés show how to integrate empirical methods, economic theory, and broad evidence about industry in order to provide high-quality, robust empirical work that is tailored to the nature and quality of data available and that can withstand expert and judicial scrutiny. Davis and Garcés describe the toolbox of empirical techniques currently available, explain how to establish the weight of pieces of empirical work, and make some new theoretical contributions.
The book consistently evaluates empirical techniques in light of the challenge faced by competition analysts and academics--to provide evidence that can stand up to the review of experts and judges. The book's integrated approach will help analysts clarify the assumptions underlying pieces of empirical work, evaluate those assumptions in light of industry knowledge, and guide future work aimed at understanding whether the assumptions are valid. Throughout, Davis and Garcés work to expand the common ground between practitioners and academics.
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Preface ix
Acknowledgments xii
Chapter 1: The Determinants of Market Outcomes 1
1.1 Demand Functions and Demand Elasticities 1
1.2 Technological Determinants of Market Structure 19
1.3 Competitive Environments: Perfect Competition, Oligopoly, and
Monopoly 37
1.4 Conclusions 61
Chapter 2: Econometrics Review 62
2.1 Multiple Regression 63
2.2 Identification of Causal Effects 89
2.3 Best Practice in Econometric Exercises 113
2.4 Conclusions 119
2.5 Annex: Introduction to the Theory of Identification 121
Chapter 3: Estimation of Cost Functions 123
3.1 Accounting and Economic Revenue, Costs, and Profits 125
3.2 Estimation of Production and Cost Functions 131
3.3 Alternative Approaches 149
3.4 Costs and Market Structure 158
3.5 Conclusions 160
Chapter 4: Market Definition 161
4.1 Basic Concepts in Market Definition 162
4.2 Price Level Differences and Price Correlations 169
4.3 Natural Experiments 185
4.4 Directly Estimating the Substitution Effect 191
4.5 Using Shipment Data for Geographic Market Definition 198
4.6 Measuring Pricing Constraints 201
4.7 Conclusions 227
Chapter 5: The Relationship between Market Structure and Price 230
5.1 Framework for Analyzing the Effect of Market Structure on Prices 231
5.2 Entry, Exit, and Pricing Power 256
5.3 Conclusions 282
Chapter 6: Identification of Conduct 284
6.1 The Role of Structural Indicators 285
6.2 Directly Identifying the Nature of Competition 300
6.3 Conclusions 341
6.4 Annex: Identification of Conduct in Differentiated Markets 343
Chapter 7: Damage Estimation 347
7.1 Quantifying Damages of a Cartel 347
7.2 Quantifying Damages in Abuse of Dominant Position Cases 377
7.3 Conclusions 380
Chapter 8: Merger Simulation 382
8.1 Best Practice in Merger Simulation 383
8.2 Introduction to Unilateral Effects 386
8.3 General Model for Merger Simulation 401
8.4 Merger Simulation: Coordinated Effects 426
8.5 Conclusions 434
Chapter 9: Demand System Estimation 436
9.1 Demand System Estimation: Models of Continuous Choice 437
9.2 Demand System Estimation: Discrete Choice Models 462
9.3 Demand Estimation in Merger Analysis 491
9.4 Conclusions 499
Chapter 10: Quantitative Assessment of Vertical Restraints and Integration 502
10.1 Rationales for Vertical Restraints and Integration 503
10.2 Measuring the Effect of Vertical Restraints 518
10.3 Conclusions 553
Conclusion 555
References 557
Index 577
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Descrizione libro Condizione: New. 2009. Hardcover. Combines practical guidance and theoretical background for analysts using empirical techniques in competition and antitrust investigations. This book shows how to integrate empirical methods, economic theory, and evidence about industry in order to provide high-quality, robust empirical work that is tailored to the nature and quality of data. Num Pages: 592 pages, 100 line illus. BIC Classification: KJF. Category: (P) Professional & Vocational; (U) Tertiary Education (US: College). Dimension: 239 x 166 x 37. Weight in Grams: 1030. . . . . . Codice articolo V9780691142579
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Descrizione libro Hardback. Condizione: New. New copy - Usually dispatched within 4 working days. Combines practical guidance and theoretical background for analysts using empirical techniques in competition and antitrust investigations. This book shows how to integrate empirical methods, economic theory, and evidence about industry in order to provide high-quality, robust empirical work that is tailored to the nature and quality of data. Codice articolo B9780691142579
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