Bhattacharya, Vivek; Illanes, Gastón; Stillerman, David - National Bureau of Economic Research - 2023
in the Horizontal Merger Guidelines. Through a model of enforcement, we find that agencies challenge mergers they expect …We document the effects of a comprehensive set of US retail mergers. On average, prices increase by 1.5% and quantities … decrease by 2.3%, with significant heterogeneity in outcomes across mergers. Price changes correlate with the screens codified …