Leslie M. Marx

Curriculum Vitae

WORKING PAPERS:

"A Long Way Coming: Designing Centralized Markets with Privately Informed Buyers and Sellers," joint with Simon Loertscher and Tom Wilkening.working paper

"Antitrust Leniency with Multi-Market Colluders," joint with Robert C. Marshall and Claudio Mezzetti. antitrustleniency.pdf

"Monopolization Conduct by Cartels," joint with Robert C. Marshall and Lily Samkharadze.

"Buyer Resistance for Cartel versus Merger," joint with Vikram Kumar, Robert C. Marshall, and Lily Samkharadze. cartelvmerger.pdf

"Buyer Power, Exclusion, and Inefficient Trade," joint with Greg Shaffer.

"Rent Shifting, Exclusion, and Market-Share Discounts," joint with Greg Shaffer.

"Opportunism and Nondiscrimination Clauses," joint with Greg Shaffer. opportunism.pdf

"Nondiscrimination Clauses in Vertical Contracts," joint with Greg Shaffer. Duke/UNC Micro-Theory Working Paper #14. ndcincontracts.pdf

SELECTED PUBLICATIONS:

"A Tractable Oligopoly Model for Analyzing and Evaluating (Re)-Assignments of Spectrum Licenses" (with Simon Loertscher), forthcoming in Review of Industrial Organization. working paper

"Tacit Collusion in Oligopoly" (with Edward J. Green and Robert C. Marshall), forthcoming in Roger D. Blair and D. Daniel Sokol eds., Oxford Handbook on International Antitrust Economics, Oxford, UK: Oxford University Press. tacitcollusion.pdf

"What Next? Cartel Strategy After Getting Caught" (with Robert C. Marshall and Claudio Mezzetti), forthcoming in Competition Law and Economics: Beyond Monopoly Regulation, East-West Center and Korea Development Institute Monograph Series, Edward Elgar. working paper

"Economics and the Efficient Allocation of Spectrum Licenses" (with Simon Loertscher), in Tansu Alpcan, Holger Boche, Michael L. Honig, and H. Vincent Poor eds., Mechanisms and Games for Dynamic Spectrum Access, Cambridge, UK: Cambridge University Press (2014). working paper

"The Economics of Auctions and Bidder Collusion" (with Robert C. Marshall and Michael J. Meurer), in Kalyan Chatterjee and William F. Samuelson eds., Game Theory and Business Applications, New York: Kluwer Academic Publishers (2014). working paper

The Economics of Collusion: Cartels and Bidding Rings, joint with Robert C. Marshall, published by MIT Press (2012). MIT Press Website

Reviews:
John Asker, New York University, Concurrences 2, 2013
Don Klawiter, SheppardMullen, Competition Law International 9(1), April 2013
William E. Kovacic, George Washington University, The Antitrust Source, December 2012
John J. Siegfried, Vanderbilt University and University of Adelaide, Journal of Economic Literature 50, December 2012
William E. Kovacic, George Washington University, Antitrust & Competition Policy Blog, August 23, 2012
Caron Beaton-Wells, University of Melbourne, Antitrust & Competition Policy Blog, August 9, 2012
Excerpt in European Financial Review, August/September 2012

"Plus Factors and Agreement in Antitrust Law," joint with William E. Kovacic, Robert C. Marshall, and Halbert L. White, Michigan Law Review 110(3), 393-436 (2011). Winner of the Tenth Annual Jerry S. Cohen Memorial Fund Writing Award given for the best antitrust writing during the prior year.

"Bidder Collusion at First-Price Auctions," joint with Giuseppe Lopomo and Peng Sun, Review of Economic Design 15(3), 177-311 (2011).

"Coordinated Effects in the 2010 Horizontal Merger Guidelines," joint with Wayne-Roy Gayle, Robert C. Marshall, and Jean Francois Richard, Review of Industrial Organization 39(1), 39-56 (2011).

"Carbon Allowance Auction Design: An Assessment of Options for the U.S.," joint with Giuseppe Lopomo, David McAdams, and Brian Murray, Review of Environmental Economics and Policy 5(1), 25-43 (2011).

"The Economics of Contingent Re-Auctions," joint with Sandro Brusco and Giuseppe Lopomo, American Economic Journal: Microeconomics 3(2), 165-193 (2011).

"Break-Up Fees and Bargaining Power in Sequential Contracting," joint with Greg Shaffer, International Journal of Industrial Organization 28, 451-463 (2010).

"Slotting Allowances and Scarce Shelf Space," joint with Greg Shaffer, Journal of Economics & Management Strategy 19(3), 575-603 (2010).

"Individual Accountability in Teams with Adverse Selection," joint with Francesco Squintani, Journal of Economic Behavior & Organization 72, 260-273 (2009). Working paper version: teams.pdf

"Quantitative Analysis of Coordinated Effects," joint with William E. Kovacic, Robert C. Marshall, and Steven P. Schulenberg, Antitrust Law Journal 76(2), 397-430 (2009).

"Cartels as Two-Stage Mechanisms: Implications for the Analysis of Dominant-Firm Conduct," joint with Randall D. Heeb, William E. Kovacic, and Robert C. Marshall, Chicago Journal of International Law 10(1), 213-231 (2009). Online Appendix

"The Vulnerability of Auctions to Bidder Collusion," joint with Robert C. Marshall, Quarterly Journal of Economics 124(2), 883-910 (2009). Working paper version: vulnerability.pdf Online appendix: appendix.pdf

"The 'Google Effect' in the FCC's 700 MHz Auction" (with Sandro Brusco and Giuseppe Lopomo), Information Economics and Policy 21, 101–114 (2009).

"Cartel Price Announcements: The Vitamins Industry," joint with Robert C. Marshall and Matthew E. Raiff, International Journal of Industrial Organization 26, 762–802 (2008).

"Rent Shifting and the Order of Negotiations," joint with Greg Shaffer, International Journal of Industrial Organization 25, 1109-1125 (2007).

"Upfront Payments and Exclusion in Downstream Markets," joint with Greg Shaffer, RAND Journal of Economics 38, 823-843 (2007).

"Bidder Collusion," joint with Robert C. Marshall, Journal of Economic Theory 133, 374-402 (2007).

"Lessons for Competition Policy from the Vitamins Cartel," joint with William Kovacic, Robert C. Marshall, and Matthew E. Raiff, in The Political Economy of Antitrust, Volume 282, Contributions to Economic Analysis Series, edited by Vivek Ghosal and Johan Stennek, Elsevier, Chapter 6, 149-176 (2007). working paper version

"Exploring Relations Between Decision Analysis and Game Theory," joint with Jules van Binsbergen, Decision Analysis 4, 32-40 (2007).

"Coordinated Effects in Merger Review: Quantifying the Payoffs from Collusion," joint with William E. Kovacic, Robert C. Marshall, and Steven P. Schulenberg, Annual Proceedings of the Fordham Competition Law Institute: International Antitrust Law & Policy, edited by Barry E. Hawk (Juris Publishing, Inc.), Chapter 13, 271-285 (2007).

"Economics at the Federal Communications Commission," Review of Industrial Organization 29, 349-368 (2006).

"Bidding Rings and the Design of Anti-Collusion Measures for Auctions and Procurements," joint with William E. Kovacic, Robert C. Marshall, and Matthew E. Raiff, in Handbook of Procurement, edited by N. Dimitri, G. Piga and G. Spagnolo, Cambridge University Press, Chapter 15, 381-411 (2006). Chapter15 Link to Book

"Inefficiency of Collusion at English Auctions," joint with Giuseppe Lopomo and Robert C. Marshall, Contributions in Theoretical Economics 5 (1), Article 4 (2005). Available Online

"Opportunism in Multilateral Vertical Contracting: Nondiscrimination, Exclusivity, and Uniformity: Comment," joint with Greg Shaffer, American Economic Review 94, 796-801 (2004).

"Opportunism and Menus of Two-Part Tariffs," joint with Greg Shaffer, International Journal of Industrial Organization 22, 1399-1414 (2004).

"Adverse Specialization," joint with Glenn M. MacDonald, Journal of Political Economy 109, 864-899 (2001).

"Dynamic Voluntary Contribution to a Public Project," joint with Steven A. Matthews, Review of Economic Studies 67, 327-358 (2000).

"Predatory Accommodation: Below-Cost Pricing Without Exclusion in Intermediate Goods Markets," joint with Greg Shaffer, RAND Journal of Economics 30, 22-43 (1999).

"Adaptive Learning and Iterated Weak Dominance," Games and Economic Behavior 26, 2, 253-278 (1999).

"Payments for Order Flow on NASDAQ," joint with Eugene Kandel, Journal of Finance 54, 1, 35-66 (1999).

"Odd-Eighth Avoidance as a Defense Against SOES Bandits," joint with Eugene Kandel, Journal of Financial Economics 51, 85-102 (1999).

"The Effects of Transaction Costs on Stock Prices and Trading Volume," joint with Michael J. Barclay and Eugene Kandel, Journal of Financial Intermediation 7, 130-150 (1998).

"Efficient Venture Capital Financing Combining Debt and Equity," Review of Economic Design 3, 371-387 (1998); Winner of the Koc University Prize for the Best Paper of the Year in Review of Economic Design.

"Nasdaq market structure and spread patterns," joint with Eugene Kandel, Journal of Financial Economics 45, 35-60 (1997).

"Order Independence for Iterated Weak Dominance," joint with Jeroen M. Swinkels, Games and Economic Behavior 18, 219-245 (1997). "Corrigendum," GEB 31, 324-329 (2000).