highlight that cross-ownership can be preferable to a horizontal merger under Cournot competition. Not only is it more …We examine the profitability of cross-ownership in an oligopolistic industry where firms compete as Cournot rivals. We … profitable beyond that participation ratio. This result may be called a cross-ownership paradox, analogous to the merger paradox …

differential merger outcomes are caused mostly by firms' technology or product market attributes. Furthermore, empirical merger …. We allow the merger responses to vary across firms, even after controlling for regressors, and apply a random …

The U.S. and EU Merger Guidelines strongly emphasize the relevance of the "ease of entry" argument in merger …

We show that the presence of a strategic tax policy increases the incentive for a horizontal merger compared to the … a horizontal merger that has been ignored in the existing literature. In contrast to the usual belief, we also show that … a horizontal merger may benefit the consumers and the society. …

and decreases wholesale prices when downstream competition is not too strong. Examining whether the merger’s potential …We study upstream horizontal mergers and their potential efficiency gains. We show that an upstream horizontal merger …

a merger among them. We show that when manufacturers distribute their products through multi-product retailers, a … manufacturers merger, although it leads to an increase in the wholesale prices, it can enhance product variety. The merger generated … products to consumers, a merger never results into more product variety. Still, both in the presence and in the absence of …

post-merger efficiency improvements to reveal a new margin of adjustment along the product dimension. We analyze horizontal … between differentiated varieties. After a merger, acquirers drop products from their consolidated domestic product portfolio … and reallocate assets towards core varieties. We further demonstrate that such merger-induced efficiency gains imply …

In this paper we compare the profitability of a merger to the profitability of a partial ownership arrangement and find … greater dampening of competition. We also derive comparative statics on the prices of the acquiring firm, the acquired firm …

We study the profitability incentives of merger and the endogenous industry structure in a strategic trade policy … environment. Merger changes the strategic trade policy equlilibrium. We show that merger can be profitable and welfare enhancing …. incentives to give subsidies to their local firms. National merger induces more strategic trade policy, whereas international …

Using data from the US automobile market, we empirically examine the link between competition and innovation … interesting market to examine the link between competition and innovation. We use firm-level time-series data over a long horizon … relationship is reasonably non-linear; (2) higher market-wide competition results in an increase in patenting, and the relationship …