Mergers Under Entry
AbstractI study merger incentives in a dynamic model under the presence of gradual entry. I consider a repeated game with merger decisions in every period and characterize the set of equilibria. I establish two properties: (i) a merger for monopoly may not be profitable; (ii) a merger in a nonconcentrated industry can be profitable. I illustrate the merger welfare implications in the Cournot model.
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Bibliographic InfoArticle provided by The RAND Corporation in its journal RAND Journal of Economics.
Volume (Year): 36 (2005)
Issue (Month): 3 (Autumn)
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- Mermelstein, Ben & Nocke, Volker & Satterthwaite, Mark A. & Whinston, Michael D., 2014.
"Internal versus External Growth in Industries with Scale Economies: A Computational Model of Optimal Merger Policy,"
Working Papers, University of Mannheim, Department of Economics
14-10, University of Mannheim, Department of Economics.
- Mermelstein, Ben & Nocke, Volker & Satterthwaite, Mark & Whinston, Michael, 2014. "Internal versus External Growth in Industries with Scale Economies: A Computational Model of Optimal Merger Policy," CEPR Discussion Papers, C.E.P.R. Discussion Papers 9943, C.E.P.R. Discussion Papers.
- Ben Mermelstein & Volker Nocke & Mark A. Satterthwaite & Michael D. Whinston, 2014. "Internal versus External Growth in Industries with Scale Economies: A Computational Model of Optimal Merger Policy," NBER Working Papers 20051, National Bureau of Economic Research, Inc.
- Aydemir, Zava & Schmutzler, Armin, 2008. "Small scale entry versus acquisitions of small firms: Is concentration self-reinforcing," Journal of Economic Behavior & Organization, Elsevier, Elsevier, vol. 65(1), pages 133-146, January.
- Breinlich, Holger & Nocke, Volker & Schutz, Nicolas, 2013. "Cross-Border Price Effects of Mergers and Acquisitions -- A Quantitative Framework for Competition Policy," Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order, Verein fÃ¼r Socialpolitik / German Economic Association 79837, Verein für Socialpolitik / German Economic Association.
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