"Managers who are looking to gain a better understanding of today's industrial environment will appreciate this text. It offers a comprehensive examination of the field. Empirical applications are integrated throughout the chapters to provide relevant examples. Discussions are included on price...

Cost synergies are an explicitly recognized justification for a two-firm merger, and empirical techniques are now widely used to assess the impact of cost-reducing mergers on prices and welfare in the post-merger market. We show that if the merger occurs in a vertically product differentiated...