Huck, Steffen; Konrad, Kai A.; Müller, Wieland - In: Economica 71 (2004) 284, pp. 575-587
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...