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Mergers realize heterogeneous competitive effects on profits, production, and prices. To date, it is unclear whether differential merger outcomes are caused mostly by firms' technology or product market attributes. Furthermore, empirical merger studies conventionally assume that, conditional on...
Persistent link: https://www.econbiz.de/10011717038
new measure of firm productivity that accounts for product quality; 2) a metric of network centrality, which captures the … extent of competition from substitute products. I estimate that, in 2019, public corporations produced consumer surplus in …
Persistent link: https://www.econbiz.de/10013503368
We show that for a spatially differentiated economy reduced product variety is the likely outcome of mergers except in cases where exit costs in relation to (outlet-specific) fixed costs are high. Our empirical analysis of the Austrian retail gasoline market confirms that increases in...
Persistent link: https://www.econbiz.de/10011451069
Multi-product exporters choose their product mix focusing on their best-performing products. Although their product mix varies across countries (the fickle fringe), the interdependence in demand or production technology making vectors of products systematically co-exported leads to commonalities...
Persistent link: https://www.econbiz.de/10011472938
explain them. We then describe a theoretical framework of endogenous markups, innovation, and competition that can potentially …
Persistent link: https://www.econbiz.de/10012104042
before the merger. While the low-variety target's stores reduced the depth of their assortment when in direct competition … chains’ response to changes in local competition. …
Persistent link: https://www.econbiz.de/10012543525
products’ attractiveness and endogenous competition. The model is motivated by two novel stylized facts using Danish … feature the toughest competition. Depending on the strength of competition, two sorting patterns are possible: one in which … quantifying our model, we find that product-specific differences in attractiveness and competition explain a quarter of the …
Persistent link: https://www.econbiz.de/10014551012
Worldwide, the overwhelming majority of large horizontal mergers are cleared by antitrust authorities unconditionally. The presumption seems to be that efficiencies from these mergers are sizeable. We calculate the compensating efficiencies that would prevent a merger from harming consumers for...
Persistent link: https://www.econbiz.de/10012668490
An increasing body of empirical evidence is documenting trends toward rising concentration, profits, and markups in many industries around the world since the 1980s. Two major criticisms of these studies is that concentration and market shares are poorly measured at the national industry level...
Persistent link: https://www.econbiz.de/10012421242
Our study puts special attention to the fact that R&D cooperations in the pharmaceutical industry are formed at different stages throughout the drug development process. We study if the timing to engage in R&D cooperations in the pharmaceutical industry has different impacts on the technology...
Persistent link: https://www.econbiz.de/10010229875