Moraga-Gonzalez, Jose L.; Petrikaite, Vaiva - Tinbergen Instituut - 2012
This paper studies the incentives to merge in a Bertrand competition model where firms sell differentiatedproducts and consumers search for satisfactory deals. In the pre-merger symmetricequilibrium, the probability that a firm is the next one to be visited by a consumer is equal acrossfirms not...