In the 1970s, Thomas C. Schelling proposed a model which claimed to show that a high degree of spatial segregation can result from individual preferences which do not in themselves aim to achieve such a degree of collective segregation. A perverse effect seems therefore to occur. However, the...

This paper analyzes the literature concerning models of endogenous mergers. Traditional models of exogenous mergers analyze mergers as isolated phenomena. However, some empirical facts about M&A don’t seem to be explained in this literature. Models of endogenous mergers take into account all...