Fauli-Oller, Ramon - In: Journal of Economics & Management Strategy 9 (2000) 3, pp. 189-210
Horizontal takeovers often occur in waves. A sequence of takeovers is obtained in a Cournot setting with cost asymmetries. They are motivated by two different reasons: (1) a low realization of demand increases the profitability of takeovers; (2) takeovers raise the profitability of future...