Bedre-Defolie, Özlem; Caprice, Stéphane - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2011
This paper analyzes the welfare implications of buyer mergers, which are mergers between downstream firms from … different markets. We focus on the interaction between the merger's effects on downstream efficiency and on buyer power in a … "waterbed effects", that is, each small retailer pays a higher average tariff if a buyer merger improves downstream efficiency …