-perfect duopoly dynamics with ongoing demand uncertainty. All entrants serving the model industry incur sunk costs, and exit avoids … two firms reduces the probability of having a duopoly but increases the probability that some firm will serve the industry …

This study shows that mergers’ price effects can vary seasonally. I document countercyclical price increases due to the … Coors and Miller merger, which is consistent with models of coordinated pricing that predict lower equilibrium prices during …