. Firms have an incentive to reduce their forward contract coverage in the more concentrated post-merger equilibrium. We … mergers can be largely underestimated when forward contract quantities are held at pre-merger levels. Whether the profits of …

&D and consumer welfare in the long run, which is in contrast to arguments provided by antitrust agencies in recent merger … cases. We provide conditions for when a merger increases industry innovation and when evaluating mergers based on static … price effects is aligned with a fully dynamic merger evaluation. These conditions are based on properties of the product …

-border deals was market players’ response. Measuring of post-merger performance alterations is a central question of M&A literature …

We investigate the competitive effects of the merger between Delta Air Lines and Northwest Airlines (2009) in the … increases of about 11 percent on overlapping routes and about 10 percent on routes which experienced a merger-induced switch of … the operating carrier. Over a longer period, however, our analysis reveals that both merger efficiencies and post-merger …

Merger analysis is an exercise in prediction. This paper analyzes the accuracy of two leading methods of predicting … merger outcomes – stock market event studies, and a market-structure/Merger Guidelines approach – as well as the accuracy of … actual price effects of some forty mergers compiled from published merger retrospectives. This paper finds that event studies …

creation since merger regulations are ex ante in nature. The present study is an attempt to understand how far the expected …

run of oligopolistic market structures, we show that a vertical merger (or any set of vertical restraints that eliminates …