In May 2007 the Federal Trade Commission failed to win a preliminary injunction in U.S. District Court that would have blocked the merger of two refiners that served Albuquerque, NM and surrounding areas. This study compares estimates of the post-merger price effect to the price effects...

In 2018, Agrium and PotashCorp merged to become the world's largest manufacturer of potash, from which potassium is extracted for use as one of the three main nutrients in agricultural fertilizer. The merged firm held a 60 percent share of North American capacity, suggesting the merger may have...

In a paper in the March 2004 AER, Justine Hastings concludes that the acquisition of an independent gasoline retailer, Thrifty, by a vertically integrated firm, ARCO, is associated with sizable price increases at competing stations. To better understand the novel mechanism to which she...

Merging firms regularly argue that mergers involving capacity-constrained firms are unlikely to be anti-competitive, because the incentive for the merged firm to raise prices and reduce quantity may not be strong enough to generate slack in the capacity constraints and lead to higher prices. We...

Merging firms regularly argue that mergers involving capacity-constrained firms are unlikelyto be anticompetitive, because a capacity-constrained firm does not represent a meaningful competitive constraint on its rivals. We construct a modified notion of upward pricing pressure called ccGUPPI,...