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 …

demand. The merging firms will increase (reduce) both quality and price if the degree of competition is sufficiently stronger … merger by either reducing or increasing both price and quality. Welfare implications are not clear-cut and mergers might …

where firms only choose prices, and make use of aggregative game theory. We find no support for that claim: absent effciency … gains, the merger lowers total investments and consumer surplus.Only if it entails suffcient effciency gains, will it be pro …

indicating severity of competition. It is obtained that horizontal mergers are more likely to be profitable in a more competitive … Structure on Cournot-Nash Equilibrium, 1983) about merger profitability are sensitive to the assumption of pre-merger Cournot … competition. …

This chapter first reviews the economic theory underlying the unilateral competitive effects of mergers, focusing on …

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 …

aggregate variety increases following a merger. However, with fixed cost synergies, an increase in aggregate variety can … indicate that the merger is beneficial. Our results also show high synergies do not necessarily improve consumer welfare. …

aggregate variety increases following a merger. However, with fixed cost synergies, an increase in aggregate variety can … indicate that the merger is beneficial. Our results also show high synergies do not necessarily improve consumer welfare …

differential merger outcomes are caused mostly by firms' technology or product market attributes. Furthermore, empirical merger …. We allow the merger responses to vary across firms, even after controlling for regressors, and apply a random …