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Profitability of Horizontal Mergers in the Presence of Price Stickiness

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  • H. Esfahani

Abstract

In this paper, we investigate the profitability of horizontal mergers of firms with price adjustments. We take a di¤erential game approach and both the open-loop as well as the closed-loop equlibria are considered. We show that the merger incentive is determined by how fast the price adapts to the equilibrium level.

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Bibliographic Info

Paper provided by Dipartimento Scienze Economiche, Universita' di Bologna in its series Working Papers with number wp747.

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Date of creation: May 2011
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Handle: RePEc:bol:bodewp:wp747

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