To merge or not to merge: That is the question
AbstractIn this paper we analyze the implementation of socially optimal mergers when the regulator is not informed about all parameters that determine social and private gains from potential mergers. We show that implementation requires a certain degree of agreement between social and private incentives. The most important example where this congruence is present is when the uncertainty refers to cost savings, because in this case society and firms want costs savings to be as high as possible. Then, it is possible to induce firms to truthfully reveal the costs savings induced by the merger. Copyright Springer-Verlag Berlin/Heidelberg 2004
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Bibliographic InfoArticle provided by Springer in its journal Review of Economic Design.
Volume (Year): 9 (2004)
Issue (Month): 1 (December)
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Web page: http://link.springer.de/link/service/journals/10058/index.htm
Other versions of this item:
- Corchon, Luis & Faulí-Oller, Ramon, 1999. "To Merge or Not To Merge: That is the Question," CEPR Discussion Papers 2190, C.E.P.R. Discussion Papers.
- Ramón Faulí-Oller & Luis Corchón, 2000. "- To Merge Or Not To Merge: That Is The Question," Working Papers. Serie AD 2000-01, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
- L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
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- Andrea Cosnita & Jean-Philippe Tropeano, 2005.
"Negotiating remedies : revealing the merger efficiency gains,"
Cahiers de la Maison des Sciences Economiques
v05047, Université Panthéon-Sorbonne (Paris 1), revised Apr 2006.
- Cosnita, Andreea & Tropeano, Jean-Philippe, 2009. "Negotiating remedies: Revealing the merger efficiency gains," International Journal of Industrial Organization, Elsevier, vol. 27(2), pages 188-196, March.
- Cosnita, A. & Tropeano, J.P., 2008. "Negotiating remedies : revealing the merger efficiency gains," Working Papers 200803, Grenoble Applied Economics Laboratory (GAEL).
- repec:hal:journl:halshs-00194906 is not listed on IDEAS
- Luis C. Corchon, 2007. "The theory of implementation : what did we learn?," Economics Working Papers we081207, Universidad Carlos III, Departamento de Economía.
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