Budzinski, Oliver; Kretschmer, Jürgen-Peter - Institut for Miljø og Erhvervsøkonomi, Syddansk … - 2009
neglected. We introduce them into a standard oligopoly model of horizontal merger by assuming an (empirically supported …Standard welfare analysis of horizontal mergers usually refers to two effects: the anticompetitive market power effect …-fect increases welfare by reducing the costs of production (synergies). How-ever, demand-side effects of synergies are usually …