Bedre-Defolie, Özlem; Caprice, Stéphane - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2011
different markets. We focus on the interaction between the merger's effects on downstream efficiency and on buyer power in a … size discounts for the merged entity has no impact on consumer prices or on smaller retailers, unless the merger affects … "waterbed effects", that is, each small retailer pays a higher average tariff if a buyer merger improves downstream efficiency …