Michael Salinger and Sean Durkin worked with The Clearing House, an association of 24 of the largest US banks, to make a presentation to the Antitrust Division about its new Real Time Payment System. The Antitrust Division subsequently issued a business letter indicating that it had no intention of challenging the system or the rules and payments underlying it as antitrust violations.
Merger simulation in second-score auctions: A nested logit model
In a recent Economics Letters article, CRA’s Martino De Stefano and Serge Moresi show how to improve the second-score auction model that is often used to...