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Mergers and difference-in-difference estimator: Why firms do not increase prices?

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  • Juan Luis Jiménez

    (Universidad de Las Palmas de Gran Canaria)

  • Jordi Perdiguero

    (Universitat Autònoma de Barcelona)

Abstract

Difference-in-difference methods are being increasingly used to analyze the impact of mergers on pricing and other market equilibrium outcomes. Using evidence from an exogenous merger between two retail gasoline companies in a specific market in Spain, this paper shows how concentration did not lead to a price increase. In fact, the conjectural variation model concludes that the existence of a collusive agreement before and after the merger accounts for this result, rather than the existence of efficient gains. This result may explain empirical evidence reported in the literature according to which mergers between firms do not have significant effects on prices.

Suggested Citation

  • Juan Luis Jiménez & Jordi Perdiguero, 2018. "Mergers and difference-in-difference estimator: Why firms do not increase prices?," European Journal of Law and Economics, Springer, vol. 45(2), pages 285-311, April.
    • Handle: RePEc:kap:ejlwec:v:45:y:2018:i:2:d:10.1007_s10657-014-9437-0
    DOI: 10.1007/s10657-014-9437-0
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    More about this item

    Keywords

    Mergers; Gasoline market; Difference-in-difference; Conjectural variation;
    All these keywords.

    JEL classification:

    • L12 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Monopoly; Monopolization Strategies
    • L41 - Industrial Organization - - Antitrust Issues and Policies - - - Monopolization; Horizontal Anticompetitive Practices
    • L44 - Industrial Organization - - Antitrust Issues and Policies - - - Antitrust Policy and Public Enterprise, Nonprofit Institutions, and Professional Organizations

    Statistics

    Access and download statistics

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