interaction between firms in a general equilibrium setting). In terms of economic importance, the dominant merger wave variable is … a positive global-all effect, indicating that M&A waves are an economy-wide, global phenomenon. Country-specific merger …

airlines, the merger is less detrimental to the frequency, possibly because the merger removes serial marginalization in the … flights, mergers have almost no impact on the frequency. The second set-up uses the market structure before the merger. When … one of the merging partners controlled all the flights between two airports, the merger does not directly affect the …

appropriable, then a merger increases consumer welfare by reducing investment in the most profitable project and increasing … merger increases consumer welfare if the more profitable project corresponds to the market with the higher elasticity of …