Railroads and Competition: The Santa Fe/Southern Pacific Merger Proposal
AbstractThe "Merger Guidelines" of the U.S. Department of Justice provide the framework for a detailed analysis of the competitive implications of the proposed merger of the Santa Fe and Southern Pacific railroads. Although the gross welfare loss from the merger is found to be large--in the range of $40-230 million per year--the transfers from shippers to the railroads are much larger. Thus, an overall welfare calculus requires not only an accurate estimate of the efficiencies resulting from the merger, but also a judgment as to the welfare relevance of wealth transfers. Copyright 1990 by Blackwell Publishing Ltd.
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Bibliographic InfoArticle provided by Wiley Blackwell in its journal Journal of Industrial Economics.
Volume (Year): 39 (1990)
Issue (Month): 1 (September)
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0022-1821
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- Russell Pittman, 2009. "Railway Mergers and Railway Alliances: Competition Issues and Lessons for Other Network Industries," EAG Discussions Papers 200902, Department of Justice, Antitrust Division.
- Ivaldi, Marc & Mccullough, Gerard, 2010.
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- Russell Pittman, 2003. "Vertical Restructuring (or Not) of the Infrastructure Sectors of Transition Economies," Journal of Industry, Competition and Trade, Springer, vol. 3(1), pages 5-26, March.
- Russell Pittman, 2009. "Competition Issues in Restructuring Ports and Railways, Including Brief Consideration of these Sectors in India," EAG Discussions Papers 200906, Department of Justice, Antitrust Division.
- Schmidt, Stephen, 2001. "Market structure and market outcomes in deregulated rail freight markets," International Journal of Industrial Organization, Elsevier, vol. 19(1-2), pages 99-131, January.
- John Bitzan & Wesley Wilson, 2007. "Industry costs and consolidation: efficiency gains and mergers in the U.S. railroad industry," Review of Industrial Organization, Springer, vol. 30(2), pages 81-105, March.
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