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approximation for the market power effect of a merger. We also provide conditions under which a merger raises consumer surplus, and … conditions under which a myopic, consumer-surplus-based merger approval policy is dynamically optimal. Finally, we study the … aggregate surplus and external effects of a merger …
Persistent link: https://www.econbiz.de/10012919859
We analyze the optimal dynamic policy of an antitrust authority towards horizontal mergers when merger proposals are … endogenous and occur over time. Approving a currently proposed merger will affect the profitability and welfare effects of … surplus by using a completely myopic merger review policy that approves a merger today if and only if it does not lower …
Persistent link: https://www.econbiz.de/10013240987
merger wave. The evidence indicates that the efficiency of the majority of acquiring firms increases following an acquisition …. Based on the parameter estimates, we calculate merger welfare effects. We find that total welfare increased by $583 …
Persistent link: https://www.econbiz.de/10012787032
Concentration-based screens for horizontal mergers, such as those employed in the US DOJ and FTC Horizontal Merger … Guidelines, play a central role in merger analysis. However, the basis for these screens, in both form and level, remains unclear …
Persistent link: https://www.econbiz.de/10013295875
strategic effects of oligopoly from the effects this has on residual demand, we compare our model to one with monopolistic firms …
Persistent link: https://www.econbiz.de/10013295732
of oligopoly concerns resulting from mergers. In this paper, we provide a critique of Bork's views on merger policy from … The Antitrust Paradox. Many of Bork's recommendations have been implemented over time and have improved merger analysis …. Bork's proposed horizontal merger policy, however, was too permissive. In particular, the empirical record shows that …
Persistent link: https://www.econbiz.de/10013057828
product space are lower and a merger with an incumbent (horizontal FDI) offers pricing power that allows the entrant to … product space and can provide an additional incentive for a merger. A basic product space model with a linear Hotelling setup …-border merger and acquisitions data support the model's prediction that horizontal FDI grows relatively faster than exports in …
Persistent link: https://www.econbiz.de/10013071518
This paper presents theory and evidence on horizontal industry structure, focusing on situations where plant …
Persistent link: https://www.econbiz.de/10013213411
We examine integration strategies of multinational firms that face a rich array of choices of international organization. Each firm in an industry must provide headquarter services from its home country, produce intermediate inputs, and assemble the intermediate goods into final products. Both...
Persistent link: https://www.econbiz.de/10013322357
support for models of price discrimination in oligopoly settings that suggest inter-brand competition can cause all prices to …
Persistent link: https://www.econbiz.de/10014201979