Farrell and Shapiro (2008) have proposed a test – called the Upward Pricing Pressure (UPP) test – to evaluate potential unilateral effects of horizontal mergers. This comment shows that the UPP test – suitably reinterpreted and properly implemented – can be applied usefully also in industries where suppliers set prices through bidding competition.
Contested ground: Early competition and market dynamics in generative AI
CRA Competition experts, Andrea Asoni, Matteo Foschi, and Oliver Latham, teamed up with Chiara Farronato of Harvard Business School to reflect on developments...