merger will be effectively realised. Moreover, the paper offers a possible explanation for merger failures. …

effects of a merger of a subset of the agents. We study the impact of the merger on the equilibrium production strategies, on … the steady states, and on the profitability of the merger for its members. We show that there exists an interval of the … asset's stock such that any merger is profitable if the stock at the time the merger is formed falls within that interval …

The seminal paper by Salant, Switzer and Reynolds (1983) showed that merger in a standard Cournot framework with linear … demand and linear costs is not profitable unless a large majority of the firms are involved in the merger. However, many … recurring to cost savings of merger. Firms interact with each other, with customers, suppliers, their owners, and with …

We study upstream horizontal mergers and their potential efficiency gains. We show that an upstream horizontal merger … and decreases wholesale prices when downstream competition is not too strong. Examining whether the merger’s potential …

The U.S. and EU Merger Guidelines strongly emphasize the relevance of the "ease of entry" argument in merger …

profitable beyond that participation ratio. This result may be called a cross-ownership paradox, analogous to the merger paradox … highlight that cross-ownership can be preferable to a horizontal merger under Cournot competition. Not only is it more …

This paper develops a theory of oligopoly and markups in general equilibrium. Firms compete in a network of product … excess of 10 US$ trillions (against $3 trillions of profits). Oligopoly lowers total surplus by 11.5% and depresses consumer …

Most retrospective merger studies resort to the treatment effect approach, comparing the price dynamics in a treatment … thus that seemingly distant entities may be affected through indirect channels. An illustration based on a merger in the … Parisian parking market is provided. -- merger retrospective analysis ; treatment effect models …

This study investigates the impact of firm-specific discount factors on merger formation and market performance. We … explain merger formation and the impact on product market performance. More specifically, we find that acquiring firms …