order of moves in the duopoly market. Our data indicate support for the theory of product bundling: with bundling and … simultaneous moves, the multiproduct firm offers the predicted number of units. When the multiproduct firm is the Stackelberg … theory bundling should not make a difference here. In sum, bundling works as a commitment device that enables the transfer of …

primary effects of a merger. Our main result is that the level of search costs are crucial in determining the incentives of … firms to merge and the welfare implications of mergers. When search costs are relatively small, mergers turn out not to be … profitable for the merging firms. If search costs are relatively high instead, a merger causes a fall in average price and this …

consumers search for satisfactory deals. In the pre-merger symmetricequilibrium, the probability that a firm is the next one to … be visited by a consumer is equal acrossfirms not yet visited. However, in the short-run after a merger, because insiders … when they do not find any product satisfactory enough, they continue searching atthe merging stores. When search costs are …

rather than exogenous merger theory. More surprisingly, our data suggests that fairness considerations also make profitable … profitable merger does not occur, because it is even more profitable for each firm to unilaterally stand as an outsider (Kamien … mergers difficult. Mergers that should occur in equilibrium do not, since they require an unequal split of surplus. …

immediate merger for two reasons. First, by predating, firms may share the costs of eliminating a rival and circumvent the free …This paper studies the interaction between the incentives for predation and mergers. I show that the incentive for …-riding problem associated with mergers, and second, destructive predation helps firms avoid the bidding competition. It is also shown …

consumers' transportation costs and (ii) the higher the concentration of the industry. Therefore, merger incentives are much … low-demand market). Buyers are mobile but restricted by transportation costs, so that imperfect arbitrage occurs when …. Furthermore, a merger can lead to an equilibrium in which only the high-demand market is served. This is more likely (i) the lower …

the determinants of bank inefficiency 2) Mergers and acquisitions between mutual banks in Italy: an analysis of the … analysis and estimates higher efficiency for merged banks, a lower efficiency degree for pre-merger banks, and a significant …

We consider a setting in which two potential merger partners each possess private information pertaining both to the … ex-post regret an unavoidable phenomenon in merger negotiations. To this end, we consider ex-post incentive compatible … mechanisms, which use both players' reports to determine whether or not a merger will take place and what each player will earn …

effects of a merger. However, a merger still reduces the buyer's welfare because there is an increased probability of internal … stable industry structures for which no further mergers would be profitable. …

We show that for a spatially differentiated economy reduced product variety is the likely outcome of mergers except in … cases where exit costs in relation to (outlet-specific) fixed costs are high. Our empirical analysis of the Austrian retail … to lead to an underestimate of market power in structural merger analysis. …