Papers


Oligopoly with Mixed Bundling (with Susumu Sato)
COMING SOON

Merger Control in a Changing World (with Martin Peitz and Nicolas Schutz)
COMING SOON

Internal Monitoring of Collective Reputations (with Roland Strausz)
COMING SOON

Optimal Merger Remedies (with Andrew Rhodes)
NEW DRAFT (February 25, 2026)

Oligopoly, Complementarities, and Transformed Potentials (with Nicolas Schutz)
NEW DRAFT (April 26, 2026)

Concentration Indices, Welfare Distortions, and Misallocation in Oligopoly (with Nicolas Schutz)
Revise & Resubmit, Journal of Economic Theory.
NEW PAPER (March 3, 2025)

Gravity with Granularity (with Holger Breinlich, Harald Fadinger, and Nicolas Schutz)
Revise & Resubmit, American Economic Journal: Microeconomics.
NEW DRAFT (January 12, 2026)

Merger Analysis with Sufficient Statistics (with Nicolas Schutz)
NEW DRAFT (August 26, 2024)

Advances in Horizontal Merger Analysis
A chapter prepared for the Econometric Society monograph Advances in Economics and Econometrics: Twelfth World Congress, Cambridge University Press.

An Aggregative Games Approach to Merger Analysis in Multiproduct-Firm Oligopoly (with Nicolas Schutz)
RAND Journal of Economics, 2025, vol. 56(3), 233-250 (lead article).
Additional material: Online Appendix

Acquihiring for Monopsony Power (with Heski Bar-Isaac and Justin Johnson)
Management Science, 2025, vol. 71(4), 3485--3496.

Consumer Search, Steering, and Choice Overload (with Patrick Rey)
Journal of Political Economy, 2024, vol. 132(5), 1684-1739.
An earlier version was circulated under the title Consumer Search and Choice Overload.

Collective Brand Reputation (with Roland Strausz)
Journal of Political Economy, 2023, vol. 131(1), 1-58 (lead article).

Concentration Thresholds for Horizontal Mergers (with Michael D. Whinston)
American Economic Review, 2022, vol. 112(6), 1915-1948.
An earlier version was circulated under the title Concentration Screens for Horizontal Mergers.

Collusion, Mergers, and Related Antitrust Issues (with John Asker)
In: The Handbook of Industrial Organization, Vol. 5, 2021, North Holland.

Merger Policy in a Quantitative Model of International Trade (with Holger Breinlich and Nicolas Schutz)
Economic Journal, 2020, vol. 130(2), 393-421.
    Additional material: Online Appendix

Internal vs. External Growth in Industries with Scale Economies: A Computational Model of Optimal Merger Policy (with Ben Mermelstein, Mark Satterthwaite and Michael D. Whinston)
Journal of Political Economy, 2020, vol. 128(1), 301-341.
    Additional material: Online Appendix

Exclusive Dealing and Vertical Integration in Interlocking Relationships (with Patrick Rey)
Journal of Economic Theory, 2018, vol. 177, 183-221.

Multiproduct Firm Oligopoly: An Aggregative Games Approach (with Nicolas Schutz)
Econometrica, 2018, vol. 86(2), 523-557.
    Additional material: Online Appendix

Quasi-Linear Integrability (with Nicolas Schutz)
Journal of Economic Theory, 2017, vol. 169, 603-628.
    Additional material: Addendum

When and How the Punishment Must Fit the Crime (with George J. Mailath and Lucy White)
International Economic Review, 2017, vol. 58(2), 315-330. Lead Article.

International Aspects of Merger Policy: A Survey (with Holger Breinlich and Nicolas Schutz)
International Journal of Industrial Organization, 2017, vol. 50, 415-429. (EARIE Special Issue.)

Globalization and Multiproduct Firms (with Stephen Yeaple)
International Economic Review, 2014, vol. 55(4), 993-1018.

Vertical Relations under Credit Constraints (with John Thanassoulis)
Journal of the European Economic Association, 2014, vol. 12(2), 337-367.

Merger Policy with Merger Choice (with Michael D. Whinston)
American Economic Review, 2013, vol. 103(2), 1006-1033.

Advance-Purchase Discounts as a Price Discrimination Device (with Martin Peitz and Frank Rosar)
Journal of Economic Theory, 2011, vol. 146(1), 141-162.

Dynamic Merger Review (with Michael D. Whinston)
Journal of Political Economy, 2010, vol. 118(6), 1200-1251.

Competition for Scarce Resources (with Peter Eso and Lucy White)
RAND Journal of Economics, 2010, vol. 41(3), 524-548.

Vertical Merger, Collusion and Disruptive Buyers (with Lucy White)
International Journal of Industrial Organization, 2010, vol. 28(4), 350-354. (EARIE Special Issue.)

An Assignment Theory of Foreign Direct Investment (with Stephen Yeaple)
Review of Economic Studies, 2008, vol. 75(2), pp. 529-557.

Platform Ownership (with Martin Peitz and Konrad Stahl)
Journal of the European Economic Association, 2007, vol. 5(6), pp. 1130-1160.

Do Vertical Mergers Facilitate Upstream Collusion (with Lucy White)
American Economic Review, 2007, vol. 97(4), pp. 1321-1339.

Collusion and Dynamic (Under-)Investment in Quality
RAND Journal of Economics, 2007, vol. 38(1), pp. 227-249.

A Theory of Clearance Sales (with Martin Peitz)
Economic Journal, 2007, vol. 117(522), pp. 964-990.

Cross-Border Mergers and Acquisitions versus Greenfield Foreign Direct Investment: The Role of Firm Heterogeneity (with Stephen Yeaple)
Journal of International Economics, 2007, vol. 72(2), pp. 336-365.

A Gap for Me: Entrepreneurs and Entry
Journal of the European Economic Association, 2006, vol. 4(5), pp. 929-956.

Firm Turnover in Imperfectly Competitive Markets (with Marcus Asplund)
Review of Economic Studies, 2006, vol. 73(2), pp. 295-327.

Business Strategy, Human Capital, and Managerial Incentives (with George J. Mailath and Andrew Postlewaite)
Journal of Economics & Management Strategy, 2004, vol. 13(4), pp. 617-633.

Hyperbolic Discounting and Secondary Markets (with Martin Peitz)
Games and Economic Behavior, 2003, vol. 44(1), pp. 77-97.

Monopolisation and Industry Structure
Economics Working Paper 2000-W27, Nuffield College, Oxford.

Cartel Stability under Capacity Constraints: The Traditional View Restored
STICERD Discussion Paper EI/23, London School of Economics.