We investigate the efficiency, foreclosure, and collusion rationales for vertical integration in a large sample of vertically related takeovers. The efficiency rationale, as discussed under the transaction cost economics and property rights theories, posits that vertical integration mitigates...

Pulse production in the United States has become geographically specific and concentrated, and the marketing channels for pulses have changed dramatically over the past 30 years. The most marked change has be~n the growth of large proprietary marketing firms which are vertically integrated as...

In this paper, we propose a model that provides an interpretation to the high concentration of the retail industry in the convenience goods market by comparing the incentives to merge of producers to those of retailers.