BEGIN:VCALENDAR
VERSION:2.0
PRODID:-//CREST - ECPv5.1.3//NONSGML v1.0//EN
CALSCALE:GREGORIAN
METHOD:PUBLISH
X-WR-CALNAME:CREST
X-ORIGINAL-URL:https://crest.science
X-WR-CALDESC:Events for CREST
BEGIN:VTIMEZONE
TZID:Europe/Helsinki
BEGIN:DAYLIGHT
TZOFFSETFROM:+0200
TZOFFSETTO:+0300
TZNAME:EEST
DTSTART:20200329T010000
END:DAYLIGHT
BEGIN:STANDARD
TZOFFSETFROM:+0300
TZOFFSETTO:+0200
TZNAME:EET
DTSTART:20201025T010000
END:STANDARD
END:VTIMEZONE
BEGIN:VEVENT
DTSTART;TZID=Europe/Helsinki:20201007T150000
DTEND;TZID=Europe/Helsinki:20201007T160000
DTSTAMP:20260712T130703
CREATED:20201002T095849Z
LAST-MODIFIED:20201002T095849Z
UID:12472-1602082800-1602086400@crest.science
SUMMARY:Leslie Marx (Duke) - "Countervailing Power\, Integration\, and Investment under Incomplete Information"
DESCRIPTION:CREST Microeconomics Seminar :  \n\nTime: 3:00 pm – 4:00pm\nDate:  07th October 2020\nVisio\n\n\nLeslie Marx (Duke) – “Countervailing Power\, Integration\, and Investment under Incomplete Information” \nAbstract: \nWe provide an incomplete information model to analyze bargaining\, countervailing power\, integration\, and investments. These have been at the forefront of merger decisions. Countervailing power arguments stipulate that horizontal mergers can be socially desirable because they offset bargaining power on the other side of the market. The tradeoff between profit and social surplus with independent private values gives rise to the possibility of social-surplus-increasing countervailing power and socially harmful vertical integration. Moreover\, efficient bargaining implies efficient\, noncontractible investments; horizontal mergers can harm rivals; bargaining breaks down on the equilibrium path; and countervailing power can align investments with the first-best. Joint work with Simon Loertscher\n \n \n\nOrganizers:\nRoxana Fernandez Machado (CREST)\, Julien Combe (CREST)\, and Matias Nunez (CREST)\nSponsors:\nCREST\n \n\n  \n
URL:https://crest.science/event/leslie-marx/
CATEGORIES:Microeconomics
END:VEVENT
END:VCALENDAR