movies

In a new NBER working paper, Charles Hodgson and Shilong Sun show that vertical integration is usually good for consumers, except when firms have both the ability and the incentive to foreclose rivals.  They use the heavily integrated Chinese Film Industry to show that targeting enforcement to the markets where harm is predictable makes it possible to effectively regulate harmful cases and protect consumers.

Amazon is in talks to buy AMC Theaters, whose business model was jeopardized by the coronavirus pandemic. Other streaming companies, such as Disney and...