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Concentration-Based Merger Tests and Vertical Market Structure

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  • Joshua S. Gans

Abstract

In this article I derive a concentration measure for markets with multiple vertical segments. I derive the measure using a model of vertical contracting in which upstream and downstream firms bargain bilaterally and may be integrated. The resulting vertical Hirschman-Herfindahl index provides a measure of the degree of distortion in the vertical chain as a result of both the horizontal concentration in a segment and the degree of its vertical integration. This measure distinguishes between the differing competitive impacts of upstream and downstream competition, establishes the relative size of integrated firms in each segment, and provides a quantitative threshold test for vertical mergers.

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File URL: http://www.journals.uchicago.edu/cgi-bin/resolve?id=doi:10.1086/519819
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Bibliographic Info

Article provided by University of Chicago Press in its journal The Journal of Law and Economics.

Volume (Year): 50 (2007)
Issue (Month): ()
Pages: 661-681

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Handle: RePEc:ucp:jlawec:v:50:y:2007:p:661-681

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Web page: http://www.journals.uchicago.edu/JLE/

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Cited by:
  1. Shi, Guanming & Chavas, Jean-Paul, 2009. "On Pricing and Vertical Organization of Differentiated Products: The Case of Soybean Seed Industry," 2009 Annual Meeting, July 26-28, 2009, Milwaukee, Wisconsin 49186, Agricultural and Applied Economics Association.
  2. Arijit Mukherjee & Udo Broll & Soma Mukherjee, 2009. "The welfare effects of entry: the role of the input market," Journal of Economics, Springer, vol. 98(3), pages 189-201, December.
  3. Herbert Hovenkamp, 2011. "Harm to Competition Under the 2010 Horizontal Merger Guidelines," Review of Industrial Organization, Springer, vol. 39(1), pages 3-18, August.

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