asymmetric Stackelberg market we obtain that some mergers are profitable. Our main result is that mergers among followers become …It is well known that the profitability of horizontal mergers with quantity competition is scarce. However, in an … reduction renders the merger profitable. This merger increases price and welfare is reduced. …

This note shows that the profitability of a merger between a leader and a follower in a Stackelberg market crucially …

We consider a linear quantity setting duopoly game and analyze which of the players will commit when both players have … commit. Hence, the low cost firm will emerge as the endogenous Stackelberg leader. …

presented: the Stackelberg model, the case of more production leaders, the price leader, the Cournot equilibrium for duopoly … arbitrary marginal costs, each time, however, by considering these costs constant recovering well known results of the models …

's ability to rationalize production is even more limited if costs are private information to firms. Merger in such markets … generate an efficiency gain associated with the pooling of information. Not only may costs be reduced, the price level and …