Chu, Kam Hon - In: International Journal of the Economics of Business 21 (2014) 1, pp. 99-119
<italic>This paper incorporates a Cournot model of oligopoly pricing into Williamson's (1968a) model to assess the welfare effect of a merger that yields economies and market power simultaneously. The results show: (i) in most cases, economies from mergers can offset price increases due to market power...</italic>