Concentration horizontale et relations verticales
AbstractThis paper studies horizontal mergers in vertically related markets. In atwo-level Cournot model, with an intermediate and a final market, we show thatdownstream mergers inducing size effects are, ceteris paribus, more profitablethan upstream ones. Moreover, a merger at one level reduces the incentivesto merge at the other level. Endogenizing the firms’ decisions to merge byconsidering a merger game supports the previous results.
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Bibliographic InfoPaper provided by Centre de Recherche en Economie et Statistique in its series Working Papers with number 2005-31.
Date of creation: 2005
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