Because of cross-border demand and supply linkages, merger approval decisio...
Bibliographic record
Abstract
In a globalizing world, the decisions of national merger authorities impose externalities on foreign jurisdictions. In a two-country international trade model with oligopolistic competition, we study the potential conflicts between national merger authorities and provide conditions under which they arise. When deciding whether to block a proposed merger to prevent harm on domestic consumers, each authority faces a trade-off between the market power effect of the merger and its efficiency effect. Because of trade costs and asymmetries between countries, the same merger may be good for consumers in one country but bad for consumers in the other. Endogenizing the merger formation process and explicitly modeling the authorities ’ decisions, we calibrate the model to match industry-level data for 160 sectors in the U.S. and Canada. We use the calibrated model to study the impact of different policy regimes such as introducing or abolishing veto rights on foreign mergers, or the establishment of a North American competition authority. We also look at the interaction of merger and trade policy by studying how the changes in consumer surplus resulting from these policy changes vary with the level
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How this classification was reachedexpand
Full frame machine prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.
Distilled classifier scores by category (both heads)
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.002 | 0.005 |
| Meta-epidemiology (narrow) | 0.000 | 0.001 |
| Meta-epidemiology (broad) | 0.001 | 0.001 |
| Bibliometrics | 0.001 | 0.002 |
| Science and technology studies | 0.002 | 0.001 |
| Scholarly communication | 0.004 | 0.003 |
| Open science | 0.001 | 0.002 |
| Research integrity | 0.002 | 0.001 |
| Insufficient payload (model declined to judge) | 0.044 | 0.004 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".