Watanabe, Takayuki; Matsubayashi, Nobuo - In: Economics Bulletin 33 (2013) 3, pp. 2024-2033
This paper studies the stability of mergers between firms in a Cournot market. Unlike most existing works, we consider a demand structure where the substitutability between firms is asymmetric. We specifically focus on the stability of the grand coalition by analyzing the core allocation. The...