Sean May is a panelist on the session entitled, “Cutting Edge Economics for Future Merger Cases.” The FTC has succeeded in persuading judges that under a twostage competition model, relevant geographic markets in provider merger cases should be narrow. Is this right? Does that model overlook economic realities? And is the notion that a merger between providers in non-overlapping product or geographic markets might still be anticompetitive ready for prime time? This panel will explore these and other issues at the boundaries of current economic thinking.
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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...