firms are quantity-setters and accumulate capacity over time à la Ramsey. The related Hamilton-Jacobi-Bellman are solved in … under both circumstances. Static profitability of a merger implies dynamic profitability of the same merger. It appears that …

quantity-setters and accumulate capacity over time à la Ramsey. I show that the open-loop solution is subgame perfect. Then, I … analyse the feasibility of horizontal mergers, and compare the result generated by the dynamic setup with the merger incentive …

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

horizontal merger of firms where the demand function is nonlinear. We take into consideration the open-loop equilibrium. We show … that in relation to the fact that the demand is nonlinear and prices follow some stickiness an incentive for small merger …