We study upstream horizontal mergers and their potential efficiency gains. We show that an upstream horizontal merger … can give rise to two efficiency-enhancing effects when firms trade through two-part tariffs. It increases R&D investments … and decreases wholesale prices when downstream competition is not too strong. Examining whether the merger’s potential …

that would prevent a merger from harming consumers for 1,014 mergers affecting 12,325 antitrust markets scrutinized by the … concerns about the Commission’s merger enforcement being too lax. …

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. …

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 …

profitable beyond that participation ratio. This result may be called a cross-ownership paradox, analogous to the merger paradox … highlight that cross-ownership can be preferable to a horizontal merger under Cournot competition. Not only is it more …

compatibility and can engage in bundling. We consider the impact of merger on prices, investment and consumer surplus. We also …

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 …

The U.S. and EU Merger Guidelines strongly emphasize the relevance of the "ease of entry" argument in merger … reduced-form regression results show that mergers dominated by efficiency effects have a negative impact on the number of … firms in the product market. Mergers dominated by market power effects result in a higher number of firms than efficiency …

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