Increasing returns to scale in data gathering and processing give rise to a new form of
monopoly, referred to here as digital monopoly. Digital monopolies create new challenges …

We provide an incomplete information bargaining framework that captures the effects of
differential bargaining power in markets with multiple buyers and multiple suppliers. The …

Clock auctions have a number of properties that make them attractive for practical purposes.
They are weakly group strategy-proof, make bidding truthfully an obviously dominant …

We study an incomplete information model in which ex post efficiency is impossible unless
the market for an asset includes firms that have the potential to act as either buyers or sellers …

Asset markets—institutions that reallocate goods among agents with heterogeneous
endowments, demands, and valuations—abound in the real world but have received little …

Coordinated effects are merger-related harms that arise because a subset of postmerger
firms modify their conduct to limit competition among themselves, particularly in ways other …

We consider general asset market environments in which agents with quasilinear payoffs
are endowed with objects and have demands for other agents' objects. We show that if all …

Agriculture in low-income countries is characterized by misallocation of land across farmers,
and fragmentation–the separation of farms into smaller plots–which increases costs and …

Abstract: Recent advances have demonstrated that pertinent issues in Industrial
Organization and Antitrust, such as the profit-surplus tradeoff and countervailing power …

Countervailing power arguments hypothesize that mergers on one side of the market
increase social surplus by offsetting power on the other. Despite its popular appeal …