Farrell and Shapiro (2008) have proposed a test – called the Upward Pricing Pressure (UPP) test – to evaluate potential unilateral effects of horizontal mergers. This comment shows that the UPP test – suitably reinterpreted and properly implemented – can be applied usefully also in industries where suppliers set prices through bidding competition.
Antitrust implications of the build vs. buy playbook in the AI era
The rapid growth of artificial intelligence (AI) makes the build-versus-buy question particularly important. AI markets are evolving quickly, and firms must...