Aggregate Market Power and the Competitive Process

Programme

Day 1 - 14 November

Venue: Waterside Building

12:00-13:15: Arrival/registration/lunch

13:15-13:30: Welcome

13:30-14:30: Session 1: Theoretical Perspectives on Market Power (Chair: Spyros Galanis)

Daniel Li (Durham University), 'Optimal Search for Bidders by a Deadline'

Doruk Ceteman (Royal Holloway), 'Dynamic Signalling in Wald Options'

14:30-14:40: Break

14:40-15:40: Session 2: Markup Estimation (Chair: Tom Farmer)

Nicole Scholz (University of Warwick), 'Output Complementarities in Production: Estimating Product Specific Production Functions for Multi-Product Firms'

Agnes Norris Keiller (London School of Economics), 'Production Function Estimation Using Subjective Expectations Data'

15:40-15:50: Break

15:50-16:50: Session 3: Aggregate Market Power (Chair: Lucy Stokes)

Rajssa Mechelli (Competition and Markets Authority), 'The State of UK Competition 2024'

Joel Stiebale (Düsseldorf Institute for Competition Economics), 'Horizontal Mergers and Market Power in India'

16:50-17:00: Break

17:00-18:00 Keynote:

Tommaso Valletti (Imperial College Business School), 'Market Power and Political Power: Is there a Curse of Bigness?'

Day 2 - 15 November

Venue: Mill Hill Lane

08:30-09:00: Arrival, coffee

09:00-10:00: Session 4: Labour Market Power I (Chair: Fizza Jabbar) 

Jakob Schneebacher (Competition and Markets Authority), 'Labour market power in the UK'

Michael Lipsitz (Federal Trade Commission), 'Innovation and the Enforceability of Noncompete Agreements'

10:15-11:15 Session 5: Labour Market Power II (Chair: John Moffat) 

Axel Gottfries (University of Edinburgh), 'Wage Fixing'

Samuel Marshall (University of Warwick), 'Spatial Labor Market Power in Sub-Saharan Africa: The Role of Self-Employment and Migration'

11:15-11:30: Break

11:30-12:30 Session 6: Market Power in Supply Chains (Chair: Cole Williams) 

Flavio Toxvaerd (University of Cambridge, Competition and Markets Authority), 'Bilateral Monopoly Revisited: Price Formation, Efficiency and Countervailing Powers'

Etienne Guigue (Ludwig-Maximilians-Universität München and KU Leuven), 'Markups, Markdowns, and Bargaining in Vertical Supply Chains' (with Rémi Avignon, Claire Chambolle, and Hugo Molina) 

12:30-13:30: Lunch

13:30-14:30 Session 7: Investment and Productivity (Chair: Rajssa Mechelli) 

Russell Black (Kings College London and Department for Business and Trade), 'Regional contributions to productivity growth in the UK, 1997-2023'

Elodie Andrieu (Paris School of Economics), 'Corporate Fragmentation and Subsidies'

14:30-14:45: Break

14:45-15:45: Session 8: Trade and Productivity (Chair: Joel Kariel) 

Astrid Krenz (Ruhr University Bochum, London School of Economics), 'The Gender Gap in Firms’ International Trade: Female Exporters and the Exporter Productivity Premium in Germany'

John Moffat (Durham University), 'From Participation to Influence: The Impact of Technology Standards Engagement on Global Production Networks'

15:45-16:00: Break

16:00-17:00: Policy Panel: ‘How to Increase UK Productivity Growth?

Register here by 31 October: https://forms.gle/A9H5fzUqJpFNUwa69