We study optimal merger policy in a dynamic model in which the presence of scale economies implies that firms can … reduce costs through either internal investment in build- ing capital or through mergers. The model, which we solve … computationally, allows firms to invest or propose mergers according to the relative profitability of these strategies. An antitrust …

We present a theory of entrepreneurial entry and exit decisions. Knowing their own managerial talent, entrepreneurs …

that entry and exit rates are positively correlated across industries. Our objective is to investigate the effect of sunk … costs and, in particular, market size on entry and exit rates, and hence on the age distribution of firms. We analyze a …. We show existence and uniqueness of a stationary equilibrium with simultaneous entry and exit: efficient firms survive …

We present a theory of entrepreneurial entry and exit decisions. Knowing their own managerial talent, entrepreneurs …

quantify the domestic and cross-border effects of mergers, and to draw conclusions for the coordination of national merger …, and are engaged in Cournot competition. We allow for profitable mergers to take place subject to the non-violation of a … foreign products, mergers may have different consumer surplus effects in the home and the foreign country. We calibrate the …