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Previous work on exit in declining industries has neglected mergers. We examine a simple model that predicts which declining industries experience horizontal mergers. Mergers are more likely if 1) market concentration is high; 2) the inverse demand curve is steep at high levels of output and...
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controlling access points, so it may go to great lengths to dominate these markets. Our theory's logic suggests that ecosystems …
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We develop a theory of digital ecosystems built on the premise that a multi-market firm can steer users it has in one … great lengths to dominate these markets. Our theory suggests that ecosystems have mixed implications for consumer welfare …
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