Profitable horizontal mergers: A market structure-oriented view

We propose a model in which mergers exert a more pronounced effect on the structure of a market than simply reducing the number of competitors. We show that this may render horizontal mergers profitable and welfare-improving even if costs are linear. The results help to reconcile theory with various empirical findings on mergers.

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Year of publication:	2000
Authors:	Huck, Steffen ; Konrad, Kai A. ; Müller, Wieland
Publisher:	Berlin : Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes
Subject:	efficient hedging \| quantile hedging \| jump-diffusion \| martingale measure.

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Series:	SFB 373 Discussion Paper ; 2000,27
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	723750815 [GVK] hdl:10419/62261 [Handle] RePEc:zbw:sfb373:200027 [RePEc]
Source:	EconStor

Persistent link: https://www.econbiz.de/10010310276