In this memo, Matthew Bennett discusses the recent interest by competition authorities in vertical communications between manufacturers and retailers, and explains the dangers of conflating Recommended Retail Prices, which are relatively common and pro-competitive, with Retail Price Maintenance, which is treated as a hard-core competition law infringement in Europe.
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...