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Building new plants or entering by acquisition? Estimation of an entry model for the U.S. cement industry
Perez-Saiz, Hector - 2011
(greenfield entry) or they can acquire an existing incumbent. In the U.S. cement industry, the comparative advantage (e.g., TFP or … size) of entrants versus incumbents and regulatory entry barriers are important factors that determine the means of … expansion. Using a rich database of the U.S. Census of Manufactures (1963-2002), an entry game is proposed to model this …
Persistent link: https://www.econbiz.de/10010333032
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Building new plants or entering by acquisition? : estimation of an entry model for the U.S. cement industry
Perez-Saiz, Hector - 2011
(greenfield entry) or they can acquire an existing incumbent. In the U.S. cement industry, the comparative advantage (e.g., TFP or … size) of entrants versus incumbents and regulatory entry barriers are important factors that determine the means of … expansion. Using a rich database of the U.S. Census of Manufactures (1963-2002), an entry game is proposed to model this …
Persistent link: https://www.econbiz.de/10008808152
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The Impact of Mergers in U.S. Petroleum Industry on Wholesale Gasoline Prices
Karikari, John A. - 2011
Starting in the mid-1990s, the U.S. petroleum industry experienced a wave of mergers, several of them between large petroleum companies that were previously competitors. Using an econometric analysis of terminal city-specific data, this study finds that the majority of the mergers led to higher...
Persistent link: https://www.econbiz.de/10013118065
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Event Studies in Merger Analysis : Review and an Application Using U.S. TNIC Data
Klein, Timo - 2020
There is a growing concern that U.S. merger control may have been too lenient, but empirical evidence remains limited. After reviewing event studies as a method to acquire empirical insights into the competitive effects of mergers, I propose a novel application using Hoberg-Phillips TNIC data....
Persistent link: https://www.econbiz.de/10012844282
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Tacit Collusion and Voluntary Disclosure : Theory and Evidence from the U.S. Automotive Industry
Bertomeu, Jeremy - 2020
This study examines how industry peers share information when they are engaged in tacit collusion. We develop a model of firms' information sharing and production decisions and use it to establish that firms engaged in tacit collusion are more likely to share information when current market...
Persistent link: https://www.econbiz.de/10012856190
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Pricing of Complements in the U.S. Freight Railroads : Cournot Versus Coase
Alexandrov, Alexei - 2018
Monopolists selling complementary products charge a higher price in a static equilibrium than a single multiproduct monopolist would, reducing both the industry profits and consumer surplus. However, firms could instead reach a Pareto improvement by lowering prices to the single monopolist...
Persistent link: https://www.econbiz.de/10012921249
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Coordinated Effects in the American Airlines-U.S. Airways Merger
Turner, Douglas - 2021
I study the pricing behavior of legacy airlines before and after the American Airlines-US Airways merger. Results are consistent with an increase in price coordination between legacy airlines after the merger. Descriptive evidence suggests the merger facilitated the observed increase in price...
Persistent link: https://www.econbiz.de/10013213866
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Some Observations on Claims That Rising Market Power Is Responsible for US Economy Ills and That Lax Antitrust Is the Villain
Carlton, Dennis W. - 2020
This paper evaluates the recent literature claiming that the US economy has generally become less competitive causing the US economy to perform poorly and that lax antitrust policy is one important reason for the decline in economic performance. Although there certainly are empirical facts...
Persistent link: https://www.econbiz.de/10012829706
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Common Ownership : Do Managers Really Compete Less?
Fox, Merritt B.; Patel, Menesh S. - 2022
This Article addresses an important question in modern antitrust: when large investment funds have holdings across an industry, is competition depressed?The question of the impact of common ownership on competition has gained much attention as the role of institutional shareholding has grown,...
Persistent link: https://www.econbiz.de/10013312321
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The growing problem of horizontal shareholding
Elhauge, Einer - 2017
Horizontal shareholding exists when significant shareholders have stock in horizontal competitors. (It is often imprecisely called "common shareholding," but that term can also apply when shareholders own stock in two noncompeting corporations. It differs from "cross-shareholding," which...
Persistent link: https://www.econbiz.de/10011685455