mergers difficult. Mergers that should occur in equilibrium do not, since they require an unequal split of surplus.   …

the insiders' dilemma, i.e. profitable mergers do not occur. This strategy may thus be more profitable for a buyer than …

Theoretically, cross ownership may mitigate mergers, i.e. market concentrations. Holding a share in a competing firm …

This paper proposes an approach for prediction the pattern of mergers when different mergers are feasible. It … that in concentrated markets, mergers are conductive to market structures with large industry profits, and thus points to a … conflict between private and social incentives. It is shown how mergers may be undertaken in order to preempt other possible …

Anticompetitive mergers increase competitors' profits, since they reduce competition. Using a model of endogenous … mergers, we show that such mergers nevertheless may reduce the competitors' share-prices. Thus, event-studies can not detect … anti-competitive mergers. …

We demonstrate a "preemptive merger mechanism" which may explain the empirical puzzle why mergers reduce profits, and … in a model of endogenous mergers which predicts the conditions under which a merger occurs, when it occurs, and how the …

We demonstrate a "preemptive merger mechanism" which may explain the empirical puzzle why mergers reduce profits, and … in a model of endogenous mergers which predicts the conditions under which a merger occurs, when it occurs, and how the …

Anticompetitive mergers benefit competitors more than the merging firms. We show that such externalities reduce firms … surprising intertemporal link: Merger incentives may be reduced by the prospect of additional profitable mergers in the future … reasonable policies may be worse than not controlling mergers at all. …

Anticompetitive mergers benefit competitors more than the merging firms. We show that such externalities reduce firms … surprising intertemporal link: Merger incentives may be reduced by the prospect of additional profitable mergers in the future … reasonable policies may be worse than not controlling mergers at all.  …