average prices for acquisition. Finally, I use a simple multinomial logit demand model to assess the effects of merger …

mitigating the market power impact of the merger) if merging firms divest assets to buyers outside the industry rather than …

We study the incentives towards horizontal merger among firms when the amount of capital is the strategic variable. We … simple oligopoly model, we prove that the horizontal merger, for any merger size, is: (i) privately efficient for insiders as … well as for outsiders; (ii) socially efficient if market size is large enough, even in the case of merger to monopoly …

Using a spatial competition framework with three ex ante identical firms, we study the effects of a horizontal merger … and prices. Overall, a merger leads to higher average prices and quality in the market. The welfare implications of a … merger are not clear-cut. If the demand responsiveness to quality is sufficiently high, some consumers benefit from the …

merger by either reducing or increasing both price and quality. Welfare implications are not clear-cut and mergers might …

alternative merger proposals, and then compete a la Cournot in the ensuing industry. We identify conditions under which both …, which determine the allocation of the incremental profits generated by the merger. We show that whether firms follow … duplicative or complementary research paths, sustaining a merger generally requires a sufficiently effective R&D technology that …

assumption were held, a positive external effect of a proposed merger would represent a sufficient condition to allow the merger … theory, moreover, demonstrates that privately unprofitable mergers can be the result of rational action. Therefore, we drop … this restrictive assumption and allow for unprofitable mergers to occur. This exerts a considerable impact on merger policy …

We show that the presence of a strategic tax policy increases the incentive for a horizontal merger compared to the … a horizontal merger that has been ignored in the existing literature. In contrast to the usual belief, we also show that … a horizontal merger may benefit the consumers and the society …

that the overall impact of a merger on innovation may be either positive or negative and sheds light on the circumstances … innovation effects should be handled by competition authorities in merger control and highlight the differences with the analysis …