We study upstream horizontal mergers and their potential efficiency gains. We show that an upstream horizontal merger … and decreases wholesale prices when downstream competition is not too strong. Examining whether the merger’s potential …

a merger among them. We show that when manufacturers distribute their products through multi-product retailers, a … manufacturers merger, although it leads to an increase in the wholesale prices, it can enhance product variety. The merger generated … products to consumers, a merger never results into more product variety. Still, both in the presence and in the absence of …