CCP News & Events
Throughout the year CCP runs a variety of events which includes our regular weekly Seminar Series and our Annual Conference, held every summer.
More information on these and other events can be found by following the links below. Subscribe to our mailing list to kept up-to-date with all Centre events.
CCP SEMINAR | 16 Oct, JSC 2.03
*** EXTRA SEMINAR ***
On Monday 16 October an extra seminar will be held with Ralph Winter (Sauder School of Business, University of British Columbia) presenting on "Vertical MFN's and Credit-card No-surcharge Rule"
Abstract: A vertical MFN prohibits a multiproduct retailer charging more for a supplier's product than for the products of rival suppliers. In the market for credit card services, this restraint takes the form of a no-surcharge rule: that a retailer not surcharge for transactions with a particular credit card. This paper sets out a general theory of the vertical MFN restraint and then applies the theory to credit cards. In a symmetric, differentiated duopoly, the vertical MFN raises price from the Bertrand equilibrium value to a level greater than the fully collusive value. In a monopoly-competitive fringe model, the restraint can allow the dominant firm to leverage its power to extract surplus from the entire set of consumers. The theory applies directly to the credit card market. Contrary to accepted wisdom and an important legal case, the two-sided nature of the credit card market does not mandate new economic foundations for competition policy.
The seminar will take place between 1pm-2pm in Julian Study Centre, Room 2.03.
The next CCP seminar will be on Friday 20 October with Emiliya Lazarova (ECO) presenting on “The (non-payoff) Relevant Impact of Politics on Business:How gubernatorial affiliation affects water abatement expenditure”
Abstract: Researchers have utilized the fact that many states have term limits (as opposed to being eligible for re-election) for governors to determine how changes in electoral incentives alter state regulatory agency behavior. .Here we asks whether these impacts spill over into private sector decision-making. Using data from gubernatorial elections in the U.S., we find strong evidence that power plants spend less in water pollution abatement if the governor of the state where the plant is located is a term-limited democrat. We show that this evidence is consistent with compliance cost minimization by power plants reacting to changes in the regulatory enforcement. Finally, we show that the decrease in spending has environmental impacts as it leads to increased pollution.
The seminar will take place between 1pm-2pm in Thomas Paine Study Centre (TPSC), Room 0.1.
Tea will be served directly after the seminar in the MBA Café area on Floor 2.
NEXT WEEK: Friday 27 October | Or Brooke (Amsterdam Center for Law and Economics) - “Priority Setting as a Double-edged Sword: How modernizations strengthen the role of non-competition interests in Article 101 TFEU"
For the full seminar series programme please visit our website: http://competitionpolicy.ac.uk/events/ccp-seminar-series