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Diskussionspapiere 2000 / 2022
This paper sheds new light on the role of communication for cartel formation. Using machine learning to evaluate free-form chat communication among firms in a laboratory experiment, we identify typical communication patterns for both explicit cartel formation and indirect attempts to collude tacitly. We document that firms are less likely to communicate explicitly about price fixing and more likely ...
2022| Maximilian Andres, Lisa Bruttel, Jana Friedrichsen
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Diskussionspapiere 2023 / 2022
We link investor ownership to profit loads on rival firms by the managers of a firm. We propose a theory model in which we distinguish between passive and active investors’ holdings, where passive investors are relatively more diversified. We find that if passive investors become relatively bigger, then common ownership incentives increase. We show that these higher incentives, in turn, are linked ...
2022| Albert Banal-Estanol, Jo Seldeslachts, Xavier Vives
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Externe referierte Aufsätze
We study the role of alliance governance in the behavior of partners in alliances with different degrees of competition. Using data from a lab experiment on 1,009 alliances and 31,662 partners' choices, we explore whether and how alliances succeed in different competitive scenarios, contingent on the use of formal governance mechanisms (termination clauses) and the number of partners in the alliance. ...
In:
Long Range Planning
55 (2022), 5, 102240, 18 S.
| Giulia Solinas, Debrah Meloso, Albert Banal-Estañol, Jo Seldeslachts, Tobias Kretschmer
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Externe referierte Aufsätze
We provide a description of ownership patterns in the top 25 European banks for the period 2003–2015, where we especially focus on the global financial crisis. Investment managers, such as Blackrock, are dominant in terms of number of blockholdings in different banks, maintaining fairly stable “common ownership” networks throughout our sample. However, the financial crisis led to capital injections ...
In:
Journal of Competition Law & Economics
18 (2022), 1, S. 135–167
| Albert Banal-Estañol, Nuria Boot, Jo Seldeslachts
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Brown Bag Seminar Industrial Economics
Innovation has recently come to the attention of Antitrust Authorities, even though the effect of mergers on innovation is still hotly debated. I study how the activity of Antitrust Authorities impacts future innovation of merging firms. Exploiting a change in notification rules I build an event study comparing mergers notified to the authorities with non-notified ones. I develop a new methodology...
03.12.2021| Giovanni Morzenti, Bocconi University, Milan
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Brown Bag Seminar Industrial Economics
Venture capital (VC) is often seen as an instrumental tool that allows many start-ups to pursue innovation with the potential to shake-up current markets and/or to replace incumbents. Using a highly granular, project-level dataset from preclinical diabetes R&D, this paper shows that VCs actively steer the direction of R&D and streamline activities of research focused firms (pipeline firms)...
02.07.2021| Jan Málek, DIW Berlin and KU Leuven
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Video
This year’s online conference is focusing on the Digital Markets Act (DMA), the EU legislative proposal to regulate digital markets in order to prevent abuses of market power. This regulatory tool contains behavioral obligations for large online platforms (‘gatekeepers’) aimed at reducing entry barriers and ensuring fairness in the relationship between digital platforms and their different user...
30.06.2021| Veranstaltungsrückblick
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Personnel news
Tomaso Duso was appointed as one of the four members of the steering committee of the newly founded CEPR Competition Policy Research & Policy Network. The purpose of the CEPR Competition Policy RPN is to become a leading platform for the critical discussion of competition policy design and outcomes. The RPN seeks to create a network of academics and enforcers to evaluate both influential decisions ...
08.06.2021
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Brown Bag Seminar Industrial Economics
The European Commission commissioned an international consortium including the DIW Berlin with a background study on State aid in the field of environmental protection and energy. The results of the study are meant to support the Commission in the revision of the EU Guidelines on State aid for environmental protection and energy (EEAG). One key focus of the study was to assess the current rules...
21.05.2021| Joanna Piechucka, DIW Berlin
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Brown Bag Seminar Industrial Economics
Germany is leading in green competitiveness of its product exports. Deploying the green economic complexity methodology using German AFiD firm-level micro data, this study seeks to analyze explanatory variables for this trend such as green R&D subsidies and subnational density of related green technologies in the light of path dependencies in firms accumulation of green capabilities. It...
12.03.2021| Nils Handler, DIW Berlin