Horizontal concentration and vertical relationships / Concentration horizontale et relations verticales
Abstract
This paper studies horizontal mergers in vertically related markets. In a two-level Cournot model, with an intermediate and a final market, we show that downstream mergers inducing size effects are, ceteris paribus, more profitable than upstream ones. Moreover, a merger at one level reduces the incentives to merge at the other level. Endogenizing the firms' decisions to merge by considering a merger game supports the previous results.Download Info
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Article provided by ENSAE in its journal Annals of Economics and Statistics.
Volume (Year): (2006)
Issue (Month): 82 ()
Pages: 103-127
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