Tag: Bureau of Economics

Displaying 221 - 240 of 458 results.

Economics at the Federal Trade Commission (FTC) covers both the antitrust and consumer protection missions. In this year’'s essay, we focus mainly on the competition-side of the agency. Drawing on a wealth of recent research, we provide descriptive and analytical information about...
It is widely believed that larger customers in a market can secure lower prices than smaller customers. This paper presents conditions under which risk averse sellers, who can distinguish larger customers from smaller customers, but who cannot observe customers’ valuations, have an...
In this paper, we examine price movements over time around the collapse of a bid-rigging conspiracy. While the mean decreased by sixteen percent, the standard deviation increased by over two hundred percent. We hypothesize that conspiracies in other industries would exhibit similar...
This paper empirically analyzes the Federal Trade Commission's merger enforcement decisions, to supplement the 2004 release of the Horizontal Merger Investigation Data. The study provides insights into the review process for both multi- and single-market mergers. We present...
Individual Federal Trade Commission (FTC) cases invariably raise broad questions about consumers, markets, and effective enforcement policy. Recent consumer protection cases raise questions about information regulation. Horizontal merger enforcement has recently focused on...
This paper estimates a duration model of late stage drug development in the pharmaceutical industry using publicly available data. The paper presents descriptive results on the estimated relationship between a particular drug's characteristics such as therapy category, route of...
  The Federal Trade Commission today issued a report by staff of the Bureau of Economics entitled, “The Petroleum Industry: Mergers, Structural Change, and Antitrust Enforcement.” The report presents a detailed overview of structural changes in the petroleum industry and describes Commission law...
This survey will help the FTC better serve fraud victims through law enforcement and education. The survey was designed, in part, to assist that agency in determining whether information in the FTC’s Consumer Sentinel database of fraud complaints is representative of consumers’...
This report updates two earlier FTC studies on mergers and structural change in the U.S. petroleum industry. Reviewing industry developments since the 1980s, this report finds, among other things, that concentration in crude oil at the country or company level has remained relatively...
This paper presents assumptions and identification results for eBay type auctions. These results are for private value auctions covering three major issues; censoring bias, auction heterogeneity and dynamic bidding. The first section of the paper presents two identification results...
Conventional outcomes report cards-- public disclosure of information about the patient-background-adjusted health outcomes of individual hospitals and physicians – may help improve quality, but they may also encourage providers to “game” the system by avoiding sick and/or seeking...
This study measures the retail and wholesale price effects in Louisville, Kentucky resulting from the Marathon/Ashland (MAP) joint venture. MAP was an early transaction in the recent era of petroleum mergers and it caused sizeable changes in concentration. We find no evidence of...
This paper presents a retrospective case study of merger efficiencies in the context of the merger of the Union Pacific Railroad Co. and the Southern Pacific Transportation Co., as approved by the Surface Transportation Board in 1996. There is sufficient information on the public...
We review explanations for two controversial vertical restraints commonly used in gasoline marketing: price zones and territorial restrictions. After a discussion of the relevant empirical and theoretical economics literature, we consider procompetitive and anticompetitive theories...
This paper introduces means of quantifying global trend of proliferation in antitrust laws, and introduces measures to assess the presence of such laws across a large set of countries. In particular, the Antitrust Law Index maps the presence of “laws on the book” into a numerical...
The paper shows that the answer is no. Holmstrom (1979) and Shavell (1979) show that the sellthe firm contract does not achieve the first best when the principal and the agent have different preferences over risk. This paper shows that the sell the firm contract does not achieve the...
This report presents the results of a study that uses a controlled experiment with over 500 recent mortgage customers to examine the mortgage broker compensation disclosure proposed by the Department of Housing and Urban Development (HUD) as part of its July 2002 RESPA reform...
This paper examines the output and profit effects of horizontal mergers between upstream firms in intermediate goods markets. We consider market settings in which the upstream firms sell differentiated products to, and negotiate nonlinear supply contracts with, a downstream retail...
The off-net-cost pricing principle argues that under a broad range of environments a positive “access” charge paid by originating networks to interconnected terminating networks would cause networks to set on-net usage charges equal to off-net rates, and that these charges would...

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