In this paper we introduce a stochastic network formation model where agents choose both actions and links. Neighbors … in the network benefit from each other's action levels through local complementarities and there exists a global …

In this paper we introduce a stochastic network formation model where agents choose both actions and links. Neighbors … in the network benefit from each other's action levels through local complementarities and there exists a global …

feasibility of innovation. Once an innovation has already taken place, the merger may block future innovations (cannibalization … effect). The merger may increase the probability of the first innovation (appropriability effect). The merger may bring the … first innovation forward in time (informational effect). The merger may increase innovation diversity (diversity effect) …

This paper assesses whether cross-border M&A decisions exhibit network effects. We estimate exponential random graph …

actually reduce consumer surplus which opposes the use of an efficiency defense in merger control. …