The question of whether and how partial common-ownership links between strategically
interacting firms affect firm objectives and behavior has been the subject of theoretical …

Many natural competitors are jointly held by a small set of large institutional investors. In the
US airline industry, taking common ownership into account implies increases in market …

We examine the effects that passive investments in rival firms have on the incentives of firms
to engage in tacit collusion. In general, these incentives depend in a complex way on the …

Recent empirical research claims to show that the common ownership of competing firms by
institutional investors has anticompetitive effects even when all financial interests are …

This chapter first reviews the economic theory underlying the unilateral competitive effects of
mergers, focusing on the Cournot model, commonly applied to homogeneous products; the …

In this paper, the consequences of cross-shareholding in an n-firm industry are analyzed.
Our attention focuses on the case where firms have silent interests in each other. These …

The Herfindahl–Hirschman Index is one of the most commonly used indicators to detect
anticompetitive behaviour in industries. In fact, an increase in the value of the index is …

The authors of this book spent several decades of performing research in different areas of
mathematical economics and especially in game theory until the mid-1990s when they met …

Recent years have witnessed an increased interest, by competition agencies, in assessing
the competitive effects of partial acquisitions. We propose a generalization of the two most …

Bertrand competition when firms hold passive ownership stakes in one another -
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