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Profitable horizontal mergers without cost advantages : the role of internal organization, information, and market structure
Huck, Steffen; Konrad, Kai A.; Müller, Wieland - 2001
Merged firms are typically rather complex organizations. Accordingly, merger has a more profound effect on the structure of a market than simply reducing the number of competitors. We show that this may render horizontal mergers profitable and welfare-improving even if costs are linear. The...
Persistent link: https://www.econbiz.de/10011398061
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The impact of horizontal mergers on market structure : evidence from the semiconductor industry
Siebert, Ralph - 2016
The U.S. and EU Merger Guidelines strongly emphasize the relevance of the "ease of entry" argument in merger evaluations. Up to now, very little is known empirically about how mergers affect entry and exit, and the resulting number of firms in the markets. We empirically test this aspect of...
Persistent link: https://www.econbiz.de/10011481190
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Preferential trade liberalization with endogenous cartel discipline : implications for welfare and optimal trade policies
Agnosteva, Delina; Syropoulos, Constantinos; Yotov, Yoto - 2020
We consider an international cartel whose members interact repeatedly in their own as well as in third …-country segmented markets. Cartel discipline-an inverse measure of the degree of competition between firms-is endogenously determined by … the cartel’s incentive compatibility constraint (ICC), which links strategically markets that are seemingly unrelated …
Persistent link: https://www.econbiz.de/10012287796
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Multimarket linkages, cartel discipline and trade costs
Agnosteva, Delina; Syropoulos, Constantinos; Yotov, Yoto V. - 2017
. A key feature of the model is that cartel discipline is endogenous. Thus, markets that appear segmented are … strategically linked via the incentive compatibility constraint. Importantly, trade costs affect cartel shipments and welfare not … costs exert a negative and significant effect on cartel discipline. In turn, cartel discipline has a negative and …
Persistent link: https://www.econbiz.de/10011781965
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Collusion sustainability with a capacity constrained firm
Madio, Leonardo; Pignataro, Aldo - 2022
incentive to deviate from a cartel. We also present conditions for the emergence of a partial cartel, with the capacity … small firm induces a partial conspiracy that is Pareto-dominant. Implications for cartel identification and enforcement are …
Persistent link: https://www.econbiz.de/10013473721
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Merger policy in a quantitative model of international trade
Breinlich, Holger; Nocke, Volker; Schutz, Nicolas - 2016
In a two-country international trade model with oligopolistic competition, we study the conditions on market structure and trade costs under which a merger policy designed to benefit domestic consumers is too tough or too lenient from the viewpoint of the foreign country. Calibrating the model...
Persistent link: https://www.econbiz.de/10011481156
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Market concentration and international outsourcing
Egger, Hartmut; Egger, Peter - 2001
This paper shows that market concentration is positively related to outsourcing activities in a framework of Cournot competition with strategic outsourcing in a first stage. The theoretical priors are confirmed by rank correlation coefficients between the intermediate goods import intensity and...
Persistent link: https://www.econbiz.de/10011492264
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Advertising competition in the free-to-air TV broadcasting industry
Ivaldi, Marc; Zhang, Jiekai - 2017
This paper empirically investigates the advertising competition in the French broadcast television industry within a two-sided market framework. We use a unique dataset on the French broadcast television market including audience, prices, and quantities of advertising of twenty-one TV channels...
Persistent link: https://www.econbiz.de/10011646956
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Efficiency in wholesale electricity markets : on the role of externalities and subsidies
Bialek, Sylwia; Unel, Burcin - 2020
We evaluate the effects of homogeneous subsidies granted for emission-free electricity generation on market outcomes and social welfare. We use an analytical model to assess the conditions under which such subsidies increase efficiency of wholesale energy and capacity markets. While the...
Persistent link: https://www.econbiz.de/10012310514
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The welfare effects of persuasion and taxation : theory and evidence from the field
Rodemeier, Matthias; Löschel, Andreas - 2020
How much information should governments reveal to consumers if consumption choices have uninternalized consequences to society? How does an alternative tax policy compare to information disclosure? We develop a price theoretic model of information design that allows empiricists to identify the...
Persistent link: https://www.econbiz.de/10012211184