Recent Developments at the CMA: 2023–24.
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| Title: | Recent Developments at the CMA: 2023–24. |
|---|---|
| Authors: | Bon, Julie1 (AUTHOR) julie.bon@cma.gov.uk, Cellan-Jones, Adam1 (AUTHOR) adam.cellan-jones@cma.gov.uk, Crawford, Alan1 (AUTHOR) alan.crawford@cma.gov.uk, Norden, Oliver1 (AUTHOR) oliver.norden@cma.gov.uk, Walker, Mike1 (AUTHOR) mike.walker@cma.gov.uk, Westrik, Daniel1 (AUTHOR) daniel.westrik@cma.gov.uk |
| Source: | Review of Industrial Organization. Dec2024, Vol. 65 Issue 4, p907-932. 26p. |
| Subjects: | Business partnerships, Mergers & acquisitions, Vertical integration, Video game consoles, Consumption (Economics) |
| Abstract: | This article discusses three important pieces of work that the Competition and Markets Authority (CMA) completed in the last year. First, we discuss the Microsoft / Activision Blizzard merger inquiry. We focus on the theory of harm that led to the CMA's original prohibition decision: the input foreclosure of rival downstream cloud gaming platforms. We consider some of the challenges that were posed by assessing competition in a nascent market. Second, we summarise some of the findings from the CMA's initial review into AI Foundation Models (FM). We detail the FM value chain, the economic characteristics of FMs, and the role of vertical integration and strategic partnerships in the FM ecosystem. Third, we describe the CMA's econometric analysis to estimate diversion ratios between different brands of dishwashers as part of the Arçelik/Whirlpool EMEA merger inquiry. This is an interesting example of an econometric analysis in a competition case because it was the first time in several years that the CMA used a consumer demand model; and the application of the model was novel because it relied on primary data that are collected directly from retailers. [ABSTRACT FROM AUTHOR] |
| Copyright of Review of Industrial Organization is the property of Springer Nature and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.) | |
| Database: | Engineering Source |
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| Header | DbId: egs DbLabel: Engineering Source An: 181944522 AccessLevel: 6 PubType: Academic Journal PubTypeId: academicJournal PreciseRelevancyScore: 0 |
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| Items | – Name: Title Label: Title Group: Ti Data: Recent Developments at the CMA: 2023–24. – Name: Author Label: Authors Group: Au Data: <searchLink fieldCode="AR" term="%22Bon%2C+Julie%22">Bon, Julie</searchLink><relatesTo>1</relatesTo> (AUTHOR)<i> julie.bon@cma.gov.uk</i><br /><searchLink fieldCode="AR" term="%22Cellan-Jones%2C+Adam%22">Cellan-Jones, Adam</searchLink><relatesTo>1</relatesTo> (AUTHOR)<i> adam.cellan-jones@cma.gov.uk</i><br /><searchLink fieldCode="AR" term="%22Crawford%2C+Alan%22">Crawford, Alan</searchLink><relatesTo>1</relatesTo> (AUTHOR)<i> alan.crawford@cma.gov.uk</i><br /><searchLink fieldCode="AR" term="%22Norden%2C+Oliver%22">Norden, Oliver</searchLink><relatesTo>1</relatesTo> (AUTHOR)<i> oliver.norden@cma.gov.uk</i><br /><searchLink fieldCode="AR" term="%22Walker%2C+Mike%22">Walker, Mike</searchLink><relatesTo>1</relatesTo> (AUTHOR)<i> mike.walker@cma.gov.uk</i><br /><searchLink fieldCode="AR" term="%22Westrik%2C+Daniel%22">Westrik, Daniel</searchLink><relatesTo>1</relatesTo> (AUTHOR)<i> daniel.westrik@cma.gov.uk</i> – Name: TitleSource Label: Source Group: Src Data: <searchLink fieldCode="JN" term="%22Review+of+Industrial+Organization%22">Review of Industrial Organization</searchLink>. Dec2024, Vol. 65 Issue 4, p907-932. 26p. – Name: Subject Label: Subjects Group: Su Data: <searchLink fieldCode="DE" term="%22Business+partnerships%22">Business partnerships</searchLink><br /><searchLink fieldCode="DE" term="%22Mergers+%26+acquisitions%22">Mergers & acquisitions</searchLink><br /><searchLink fieldCode="DE" term="%22Vertical+integration%22">Vertical integration</searchLink><br /><searchLink fieldCode="DE" term="%22Video+game+consoles%22">Video game consoles</searchLink><br /><searchLink fieldCode="DE" term="%22Consumption+%28Economics%29%22">Consumption (Economics)</searchLink> – Name: Abstract Label: Abstract Group: Ab Data: This article discusses three important pieces of work that the Competition and Markets Authority (CMA) completed in the last year. First, we discuss the Microsoft / Activision Blizzard merger inquiry. We focus on the theory of harm that led to the CMA's original prohibition decision: the input foreclosure of rival downstream cloud gaming platforms. We consider some of the challenges that were posed by assessing competition in a nascent market. Second, we summarise some of the findings from the CMA's initial review into AI Foundation Models (FM). We detail the FM value chain, the economic characteristics of FMs, and the role of vertical integration and strategic partnerships in the FM ecosystem. Third, we describe the CMA's econometric analysis to estimate diversion ratios between different brands of dishwashers as part of the Arçelik/Whirlpool EMEA merger inquiry. This is an interesting example of an econometric analysis in a competition case because it was the first time in several years that the CMA used a consumer demand model; and the application of the model was novel because it relied on primary data that are collected directly from retailers. [ABSTRACT FROM AUTHOR] – Name: AbstractSuppliedCopyright Label: Group: Ab Data: <i>Copyright of Review of Industrial Organization is the property of Springer Nature and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract.</i> (Copyright applies to all Abstracts.) |
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| RecordInfo | BibRecord: BibEntity: Identifiers: – Type: doi Value: 10.1007/s11151-024-09996-4 Languages: – Code: eng Text: English PhysicalDescription: Pagination: PageCount: 26 StartPage: 907 Subjects: – SubjectFull: Business partnerships Type: general – SubjectFull: Mergers & acquisitions Type: general – SubjectFull: Vertical integration Type: general – SubjectFull: Video game consoles Type: general – SubjectFull: Consumption (Economics) Type: general Titles: – TitleFull: Recent Developments at the CMA: 2023–24. Type: main BibRelationships: HasContributorRelationships: – PersonEntity: Name: NameFull: Bon, Julie – PersonEntity: Name: NameFull: Cellan-Jones, Adam – PersonEntity: Name: NameFull: Crawford, Alan – PersonEntity: Name: NameFull: Norden, Oliver – PersonEntity: Name: NameFull: Walker, Mike – PersonEntity: Name: NameFull: Westrik, Daniel IsPartOfRelationships: – BibEntity: Dates: – D: 01 M: 12 Text: Dec2024 Type: published Y: 2024 Identifiers: – Type: issn-print Value: 0889938X Numbering: – Type: volume Value: 65 – Type: issue Value: 4 Titles: – TitleFull: Review of Industrial Organization Type: main |
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