effects of a merger of a subset of the agents. We study the impact of the merger on the equilibrium production strategies, on … the steady states, and on the profitability of the merger for its members. We show that there exists an interval of the … asset's stock such that any merger is profitable if the stock at the time the merger is formed falls within that interval …

The seminal paper by Salant, Switzer and Reynolds (1983) showed that merger in a standard Cournot framework with linear … demand and linear costs is not profitable unless a large majority of the firms are involved in the merger. However, many … recurring to cost savings of merger. Firms interact with each other, with customers, suppliers, their owners, and with …

-financed oligopoly in which firms face an imperfect credit market. We consider two situations, without and with credit rationing, i …

We investigate the effect of a vertical merger on downstream firms' ability to collude in a repeated game framework. We … show that a vertical merger has two main effects. On the one hand, it increases the total collusive profits, increasing the …