McAfee, R Preston; Williams, Michael A - In: Journal of Industrial Economics 40 (1992) 2, pp. 181-87
The welfare implications of horizontal mergers are examined in the context of the Cournot-Nash model of M. Perry and R. Porter (1985). Horizontal mergers are more likely to be welfare enhancing the more concentrated is the ownership of the nonmerging firms. Mergers that create a new largest...