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251 records from EconBiz based on author Name
1. Economics at the FTC : non-horizontal mergers, the CARS rule, and the non-compete rule
Hole, Alison; LeGower, Michael; Lipsitz, Michael; Nevo, Aviv;2024
Type: Aufsatz in Zeitschrift; Article in journal;
Availability:
Link 2. Empirical Models of Demand and Supply in Differentiated Products Industries
abstractThis is an invited chapter for the forthcoming Volume 4 of the Handbook of Industrial Organization. We present empirical models of demand and supply in differentiated products industries with an emphasis on the key ideas arising from the recent applied literature. We start with a discussion of the challenges in modeling and estimation of demand for differentiated products, and focus on discrete choice characteristics-based demand models that address these challenges while allowing enough flexibility to capture realistic substitution patterns. Our discussion emphasizes how empirical strategies can leverage different features of data depending on the sources of variation that are commonly found in applied work. Moving to the supply-side, we show how demand estimates combined with a pricing model, can be used to recover markups and marginal costs. We also show how the model of pricing can be tested. We discuss a baseline Bertrand-Nash model of competitive pricing, and expand it to cover a) coordinated pricing, b) wholesale relationships, and c) bargaining. We end the chapter with extensions of the demand model, including dynamic and continuous demand
Gandhi, Amit; Nevo, Aviv;2021
Type: Arbeitspapier; Working Paper; Graue Literatur; Non-commercial literature;
Availability: Link Link
Citations: 4 (based on OpenCitations)
3. A Tale of Two Sides : Sabre/Farelogix in the United States and the UK
abstractThe Sabre decision suggests that US courts might require a particularly high standard of proof in mergers involving claims of potential competition challenged under Section 7 of the Clayton Act. The UK enforcement system seems to have greater flexibility, which at least in part allowed the CMA to reach a different conclusion than the US Court. The high standard of proof and the divergence with the UK system are especially likely to be relevant in cases involving two sided platforms, where the American Express decision casts a long shadow on US enforcement efforts
Hatzitaskos, Kostis; Howells, Brad; Nevo, Aviv;2023
Availability: Link Link
4. The Proposed Acquisition of Farelogix by Sabre
abstractOn November 14, 2018, Sabre Corporation announced an agreement to acquire Farelogix, Inc. for $360 million. Sabre is a global distribution system, a company that compiles information from airlines, supplies this information to travel agents who book flights and complete other transactions through its interface. Farelogix is a technology company that sells various technology services to airlines. The proposed merger was investigated by both the US Department of Justice (DOJ) and the UK Competition and Markets Authority (CMA). The DOJ challenged the merger, which led to a two-week trial in January and February of 2020 in the United States District Court for the District of Delaware (the US Court). The US Court ruled against the DOJ on April 7, 2020. Two days later, the CMA issued its final report: The CMA concluded that the proposed merger would lead to a Substantial Lessening of Competition. The merging parties abandoned their merger shortly thereafter, on May 1, 2020. In this chapter we discuss the economic analysis of the merger across both the DOJ and CMA reviews
Doyle, Chris; Hatzitaskos, Kostis; Koegel, Kate; Nevo, Aviv;2023
Availability: Link Link
5. Is OTT video a substitute for TV? : policy insights from cord-cutting
Malone, Jacob B.; Nevo, Aviv; Nolan, Zachary; Williams, Jonathan W.;2023
Type: Aufsatz in Zeitschrift; Article in journal;
Availability: Link
Citations: 1 (based on OpenCitations)
6. Steering incentives of platforms : evidence from the telecommunications industry
McManus, Brian; Nevo, Aviv; Nolan, Zachary; Williams, Jonathan W.;2020
Type: Graue Literatur; Non-commercial literature; Arbeitspapier; Working Paper;
Availability: Link
7. Steering Incentives of Platforms : Evidence from the Telecommunications Industry
abstractWe study the trade-offs faced by Internet Service Providers (ISPs) that serve as platforms through which consumers access both television and internet services. As online streaming video improves, these providers may respond by attempting to steer consumers away from streaming video toward their own TV services, or by attempting to capture surplus from this improved internet content. We augment the standard mixed bundling model to demonstrate the trade-offs the ISP faces when dealing with streaming video, and we show how these trade-offs change with the pricing options available to the ISP. Next, we use unique household-level panel data and the introduction of usage-based pricing (UBP) in a subset of markets to measure consumers' responses and to evaluate quantitatively the ISP's trade-offs. We find that the introduction of UBP led consumers to upgrade their internet service plans and lower overall internet usage. Our findings suggest that while steering consumers towards TV services is possible, it is likely costly for the ISP and therefore unlikely to be profitable. This is especially true if the ISP can offer rich pricing menus that allow it to capture some of the surplus generated by a better internet service. The results suggest that policies like UBP can increase ISPs' incentive to maintain open access to new internet content
McManus, Brian; Nevo, Aviv; Nolan, Zachary; Williams, Jonathan W.;2020
Availability: Link Link
Citations: 1 (based on OpenCitations)
8. The Relative Performance of Real Estate Marketing Platforms : Mls Versus Fsbomadison.Com
abstractWe compare outcomes obtained by sellers who listed their home on a newly developed For-Sale-By-Owner (FSBO) web site versus those who used an agent and the Multiple Listing Service (MLS). We do not find support for the hypothesis that listing on the MLS helps sellers obtain a significantly higher sale price. Listing on the MLS shortens the time it takes to sell a house. The diffusion of the new FSBO platform was quick, with the market share stabilizing after 2 years, suggesting it managed to gain a critical mass necessary to compete with the MLS. However, the lower effectiveness of FSBO (in terms of time to sell and probability of a sale) suggests that the increasing returns to network size are not fully exploited at its current size. We discuss the welfare implications of our findings
Hendel, Igal; Nevo, Aviv; Ortalo-Magné, François;2022
Availability: Link
9. Steering Incentives of Platforms : Evidence from the Telecommunications Industry
abstractWe study the trade-offs faced by Internet Service Providers (ISPs) that serve as platforms through which consumers access both television and internet services. As online streaming video improves, these providers may respond by attempting to steer consumers away from streaming video toward their own TV services, or by attempting to capture surplus from this improved internet content. We augment the standard mixed bundling model to demonstrate the trade-offs the ISP faces when dealing with streaming video, and we show how these trade-offs change with the pricing options available to the ISP. Next, we use unique household-level panel data and the introduction of usage-based pricing (UBP) in a subset of markets to measure consumers' responses and to evaluate quantitatively the ISP's trade-offs. We find that the introduction of UBP led consumers to upgrade their internet service plans and lower overall internet usage. Our findings suggest that while steering consumers towards TV services is possible, it is likely costly for the ISP and therefore unlikely to be profitable. This is especially true if the ISP can offer rich pricing menus that allow it to capture some of the surplus generated by a better internet service. The results suggest that policies like UBP can increase ISPs' incentive to maintain open access to new internet content
McManus, Brian; Nevo, Aviv; Nolan, Zachary; Williams, Jonathan W.;2022
Availability: Link
10. On the Misuse of Regressions of Price on the HHI in Merger Review
abstractEconomists widely agree that, absent sufficient efficiencies or other offsetting factors, mergers that increase concentration substantially are likely to be anticompetitive. Further, holding everything else equal, the magnitude of anticompetitive effects tends to be larger, the larger is the increase in concentration caused by the merger. As market concentration is more easily measured than the post-merger equilibrium (which is unobserved ex ante), the use of concentration screens in the antitrust review of mergers is sensible and economically well-founded. It might seem natural to determine whether prices are positively related to measures of concentration, such as the Herfindahl-Hirschman Index (HHI), comparing across different geographic markets or time periods. This might be implemented by using a simple regression of price on the HHI. However, for reasons that we describe, regressions of price on the HHI should not be interpreted as establishing causation. That is, they do not inform how a change in concentration from a merger would affect prices. Courts and other policy-makers should not rely on regressions of price on the HHI for the purposes of antitrust merger review
Miller, Nathan; Berry, Steven; Scott Morton, Fiona M.; Baker, Jonathan B.; Bresnahan, Timothy; Gaynor, Martin; Gilbert, Richard; Hay, George Alan; Jin, Ginger Zhe; Kobayashi, Bruce H.; Lafontaine, Francine; Levinsohn, James A.; Marx, Leslie M.; Mayo, John W.; Nevo, Aviv; Pakes, Ariel; Rose, Nancy L.; Rubinfeld, Daniel L.; Salop, Steven C.; Schwartz, Marius; Seim, Katja; Shapiro, Carl; Shelanski, Howard A.; Sibley, David S.; Sweeting, Andrew;2022
Availability: Link Link
Citations: 1 (based on OpenCitations)