The Insiders' Dilemma: An Experiment on Merger Formation
Author
Abstract
Suggested Citation
Download full text from publisher
Other versions of this item:
- Tobias Lindqvist & Johan Stennek, 2005. "The Insiders’ Dilemma: An Experiment on Merger Formation," Experimental Economics, Springer;Economic Science Association, vol. 8(3), pages 267-284, September.
- Stennek, Johan & Lindqvist, Tobias, 2005. "The Insiders' Dilemma: An Experiment on Merger Formation," CEPR Discussion Papers 5016, C.E.P.R. Discussion Papers.
- Lindqvist, Tobias & Stennek, Johan, 2001. "The Insiders' Dilemma: An Experiment on Merger Formation," Working Paper Series 563, Research Institute of Industrial Economics.
References listed on IDEAS
- Huck, Steffen & Normann, Hans-Theo & Oechssler, Jorg, 2000.
"Does information about competitors' actions increase or decrease competition in experimental oligopoly markets?,"
International Journal of Industrial Organization, Elsevier, vol. 18(1), pages 39-57, January.
- Steffen Huck & Hans-Theo Normann & Joerg Oechssler, 1998. "Does information about competitors' actions increase or decrease competition in experimental oligopoly markets?," Industrial Organization 9803004, University Library of Munich, Germany.
- Ernst Fehr & Klaus M. Schmidt, 1999.
"A Theory of Fairness, Competition, and Cooperation,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 114(3), pages 817-868.
- Fehr, Ernst & Schmidt, Klaus M., . "A theory of fairness, competition, and cooperation," Chapters in Economics,, University of Munich, Department of Economics.
- Ernst Fehr & Klaus M. Schmidt, "undated". "A Theory of Fairness, Competition and Cooperation," IEW - Working Papers 004, Institute for Empirical Research in Economics - University of Zurich.
- Fehr, Ernst & Schmidt, Klaus M., 1999. "A theory of fairness, competition, and cooperation," Munich Reprints in Economics 20650, University of Munich, Department of Economics.
- Fehr, Ernst & Schmidt, Klaus M., 1998. "A Theory of Fairness, Competition and Cooperation," CEPR Discussion Papers 1812, C.E.P.R. Discussion Papers.
- Horn, Henrik & Persson, Lars, 2001.
"Endogenous mergers in concentrated markets,"
International Journal of Industrial Organization, Elsevier, vol. 19(8), pages 1213-1244, September.
- Horn, Henrik & Persson, Lars, 1996. "Endogenous Mergers in Concentrated Markets," CEPR Discussion Papers 1544, C.E.P.R. Discussion Papers.
- Persson, Lars & Horn, Henrik, 1998. "Endogenous Mergers in Concentrated Markets," Working Paper Series 513, Research Institute of Industrial Economics.
- Armando Gomes, "undated".
"A Theory of Negotiations and Formation of Coalitions,"
Rodney L. White Center for Financial Research Working Papers
21-99, Wharton School Rodney L. White Center for Financial Research.
- Armando Gomes, "undated". "A Theory of Negotiation and Formation of Coalition," CARESS Working Papres 99-12, University of Pennsylvania Center for Analytic Research and Economics in the Social Sciences.
- Kamien, Morton I. & Zang, Israel, 1991.
"Competitively cost advantageous mergers and monopolization,"
Games and Economic Behavior, Elsevier, vol. 3(3), pages 323-338, August.
- Morton I. Kamien & Israel Zang, 1988. "Competitively Cost Advantageous Mergers and Monopolization," Discussion Papers 799, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Fridolfsson, Sven-Olof & Stennek, Johan, 2005. "Hold-up of anti-competitive mergers," International Journal of Industrial Organization, Elsevier, vol. 23(9-10), pages 753-775, December.
- Eckbo, B. Espen, 1983. "Horizontal mergers, collusion, and stockholder wealth," Journal of Financial Economics, Elsevier, vol. 11(1-4), pages 241-273, April.
- Stephen W. Salant & Sheldon Switzer & Robert J. Reynolds, 1983. "Losses From Horizontal Merger: The Effects of an Exogenous Change in Industry Structure on Cournot-Nash Equilibrium," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 98(2), pages 185-199.
- Perry, Martin K & Porter, Robert H, 1985. "Oligopoly and the Incentive for Horizontal Merger," American Economic Review, American Economic Association, vol. 75(1), pages 219-227, March.
- Fridolfsson, Sven-Olof & Stennek, Johan, 2000. "Why Event Studies Do Not Detect Anti-Competitive Mergers," Working Paper Series 542, Research Institute of Industrial Economics.
- Szidarovszky, F. & Yakowitz, S., 1982. "Contributions to Cournot oligopoly theory," Journal of Economic Theory, Elsevier, vol. 28(1), pages 51-70, October.
- Davis, Douglas D., 2002. "Strategic interactions, market information and predicting the effects of mergers in differentiated product markets," International Journal of Industrial Organization, Elsevier, vol. 20(9), pages 1277-1312, November.
- Kamien, Morton I & Zang, Israel, 1993. "Monopolization by Sequential Acquisition," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 9(2), pages 205-229, October.
- repec:hhs:iuiwop:542 is not listed on IDEAS
- Morton I. Kamien & Israel Zang, 1990. "The Limits of Monopolization Through Acquisition," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 105(2), pages 465-499.
- Raymond Deneckere & Carl Davidson, 1985. "Incentives to Form Coalitions with Bertrand Competition," RAND Journal of Economics, The RAND Corporation, vol. 16(4), pages 473-486, Winter.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Jose Apesteguia & Martin Dufwenberg & Reinhard Selten, 2007.
"Blowing the Whistle,"
Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 31(1), pages 143-166, April.
- Apesteguia, José & Dufwenberg, Martin & Selten, Reinhard, 2003. "Blowing the Whistle," Bonn Econ Discussion Papers 9/2003, University of Bonn, Bonn Graduate School of Economics (BGSE).
- José Apesteguía & Martin Dufwenberg & Reinhard Selten, 2003. "Blowing the Whistle," Documentos de Trabajo - Lan Gaiak Departamento de Economía - Universidad Pública de Navarra 0303, Departamento de Economía - Universidad Pública de Navarra, revised 2003.
- Apesteguia, Jose & Dufwenberg, Martin & Selten, Reinhard, 2003. "Blowing the Whistle," Research Papers in Economics 2003:5, Stockholm University, Department of Economics.
- Granier, Laurent & Podesta, Marion, 2010.
"Bundling and Mergers in Energy Markets,"
Energy Economics, Elsevier, vol. 32(6), pages 1316-1324, November.
- Laurent Granier & Marion Podesta, 2010. "Bundling and Mergers in Energy Markets," Post-Print hal-00955456, HAL.
- Berardino Cesi, 2010. "Horizontal Mergers: A Solution Of The Insiders' Dilemma," Bulletin of Economic Research, Wiley Blackwell, vol. 62(2), pages 171-180, April.
- Lindqvist, Tobias, 2004. "Mergers by Partial Acquisition," Working Paper Series 630, Research Institute of Industrial Economics.
- Darai, D. & Roux, C. & Schneider, F., 2019.
"Mergers, Mavericks, and Tacit Collusion,"
Cambridge Working Papers in Economics
1984, Faculty of Economics, University of Cambridge.
- Donja Darai & Catherine Roux & Frédéric Schneider, 2019. "Mergers, mavericks, and tacit collusion," Working Papers 201902, Cambridge Judge Business School, University of Cambridge.
- Walter Ferrarese, 2020. "When Multiple Merged Entities Lead in Stackelberg Oligopolies," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 56(1), pages 131-142, February.
- James Gaisford & Stefan Lutz, 2007. "A Multi-Product Framework Generating Waves of Mergers and Divestitures," ICER Working Papers 36-2007, ICER - International Centre for Economic Research.
- Fumagalli, Eileen & Nilssen, Tore, 2008. "Waiting to Merge," Memorandum 13/2008, Oslo University, Department of Economics.
- Jan Potters & Sigrid Suetens, 2013. "Oligopoly Experiments In The Current Millennium," Journal of Economic Surveys, Wiley Blackwell, vol. 27(3), pages 439-460, July.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Fridolfsson, Sven-Olof & Stennek, Johan, 2005. "Hold-up of anti-competitive mergers," International Journal of Industrial Organization, Elsevier, vol. 23(9-10), pages 753-775, December.
- Sven-Olof Fridolfsson & Johan Stennek, 2005.
"Why Mergers Reduce Profits And Raise Share Prices-A Theory Of Preemptive Mergers,"
Journal of the European Economic Association, MIT Press, vol. 3(5), pages 1083-1104, September.
- FRIDOLFSSON, Sven-Olof & STENNEK, Johan, 1999. "Why mergers reduce profits, and raise share prices: A theory of preemptive mergers," Working Papers 1999018, University of Antwerp, Faculty of Business and Economics.
- Sven-Olof Fridolfsson & Johan Stennek, 2001. "Why Mergers Reduce Profits and Raise Share Prices: A Theory of Preemptive Mergers," CIG Working Papers FS IV 01-26, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG).
- Sven‐Olof Fridolfsson & Johan Stennek, 2010.
"Industry Concentration and Welfare: On the Use of Stock Market Evidence from Horizontal Mergers,"
Economica, London School of Economics and Political Science, vol. 77(308), pages 734-750, October.
- Fridolfsson, Sven-Olof & Stennek, Johan, 2006. "Industry Concentration and Welfare - On the Use of Stock Market Evidence from Horizontal Mergers," Working Paper Series 682, Research Institute of Industrial Economics.
- Stennek, Johan & Fridolfsson, Sven-Olof, 2006. "Industry Concentration and Welfare - On the Use of Stock Market Evidence from Horizontal Mergers," CEPR Discussion Papers 5977, C.E.P.R. Discussion Papers.
- Jozsef Molnar, 2002.
"Preemptive Horizontal Mergers: Theory and Evidence,"
CERS-IE WORKING PAPERS
0213, Institute of Economics, Centre for Economic and Regional Studies.
- Molnár, József, 2007. "Pre-emptive horizontal mergers: theory and evidence," Bank of Finland Research Discussion Papers 17/2007, Bank of Finland.
- Nilssen, Tore & Sorgard, Lars, 1998.
"Sequential horizontal mergers,"
European Economic Review, Elsevier, vol. 42(9), pages 1683-1702, November.
- Nilssen, T. & Sogard, L., 1995. "Sequential Horizontal Mergers," Papers 04-95, Norwegian School of Economics and Business Administration-.
- Nilssen, T. & Sorgard, L., 1995. "Sequential Horizontal Mergers," Memorandum 1995_030, Oslo University, Department of Economics.
- Walter Ferrarese, 2020. "When Multiple Merged Entities Lead in Stackelberg Oligopolies," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 56(1), pages 131-142, February.
- Dockner, Engelbert J. & Gaunersdorfer, Andrea, 2001. "On the profitability of horizontal mergers in industries with dynamic competition," Japan and the World Economy, Elsevier, vol. 13(3), pages 195-216, August.
- Petri Lehto & Mihkel M. Tombak, 1997. "Consolidations and the Sequence of Acquisitions to Monopoly," CIG Working Papers FS IV 97-22, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG).
- Zhou, Wen, 2008. "Endogenous horizontal mergers under cost uncertainty," International Journal of Industrial Organization, Elsevier, vol. 26(4), pages 903-912, July.
- Horn, Henrik & Persson, Lars, 2001.
"Endogenous mergers in concentrated markets,"
International Journal of Industrial Organization, Elsevier, vol. 19(8), pages 1213-1244, September.
- Horn, Henrik & Persson, Lars, 1996. "Endogenous Mergers in Concentrated Markets," CEPR Discussion Papers 1544, C.E.P.R. Discussion Papers.
- Persson, Lars & Horn, Henrik, 1998. "Endogenous Mergers in Concentrated Markets," Working Paper Series 513, Research Institute of Industrial Economics.
- Lindqvist, Tobias, 2004. "Mergers by Partial Acquisition," Working Paper Series 630, Research Institute of Industrial Economics.
- repec:zbw:bofrdp:2007_017 is not listed on IDEAS
- Jozsef Molnar, 2002.
"Preemptive Horizontal Mergers: Theory and Evidence,"
CERS-IE WORKING PAPERS
0213, Institute of Economics, Centre for Economic and Regional Studies.
- Molnár, József, 2007. "Pre-emptive horizontal mergers : theory and evidence," Research Discussion Papers 17/2007, Bank of Finland.
- Molnár, József, 2007. "Pre-emptive horizontal mergers: theory and evidence," Bank of Finland Research Discussion Papers 17/2007, Bank of Finland.
- Alberto Salvo, 2010. "Sequential Cross‐border Mergers in Models of Oligopoly," Economica, London School of Economics and Political Science, vol. 77(306), pages 352-383, April.
- Lommerud, Kjell Erik & Sorgard, Lars, 1997.
"Merger and product range rivalry,"
International Journal of Industrial Organization, Elsevier, vol. 16(1), pages 21-42, November.
- Lommerud, K.E. & Sorgard, L., 1997. "Merger and Product Range Rivalery," Norway; Department of Economics, University of Bergen 165, Department of Economics, University of Bergen.
- Patricia Charléty & Said Souam, 2002. "Analyse économique des fusions horizontales," Revue Française d'Économie, Programme National Persée, vol. 17(2), pages 37-68.
- Ulus Aysegul & Yildiz Halis M., 2012.
"On the Relationship between Tariff Levels and the Nature of Mergers,"
The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 12(1), pages 1-40, December.
- Yildiz, Halis Murat & Ulus, Aysegul, 2011. "On the relationship between tariff levels and the nature of mergers," MPRA Paper 35021, University Library of Munich, Germany.
- Onur A. Koska & Frank Stähler, 2014.
"Optimal Acquisition Strategies in Unknown Territories,"
Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 170(3), pages 406-426, September.
- Koska, Onur A. & Staehler, Frank, 2014. "Optimal Acquisition Strategies in Unknown Territories," MPRA Paper 68196, University Library of Munich, Germany.
- Andrei Medvedev, 2004.
"Structural remedies in merger regulation in a Cournot framework,"
CERGE-EI Working Papers
wp229, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
- Medvedev, A., 2004. "Structural Remedies in Merger Regulation in a Cournot Framework," Discussion Paper 2004-006, Tilburg University, Tilburg Law and Economic Center.
- Andrei Medvedev, 2007. "Structural Remedies in Merger Regulation in a Cournot Framework," Working Paper series, University of East Anglia, Centre for Competition Policy (CCP) 2007-16, Centre for Competition Policy, University of East Anglia, Norwich, UK..
- Andrei Medvedev, 2007. "Structural Remedies in Merger Regulation in a Cournot Framework," Working Papers 07-16, Centre for Competition Policy, University of East Anglia.
- Emilie Dargaud, 2005.
"Monopolization through acquisitions in a differentiated product industry,"
Working Papers
0507, Groupe d'Analyse et de Théorie Economique Lyon St-Étienne (GATE Lyon St-Étienne), Université de Lyon.
- Emilie Dargaud, 2005. "Monopolization through acquisitions in a differentiated product industry," Post-Print halshs-00180041, HAL.
- Evangelos Rouskas, 2023. "Mergers, multiperiod Cournot competition, and Coasian dynamics," Bulletin of Economic Research, Wiley Blackwell, vol. 75(2), pages 270-286, April.
More about this item
Keywords
coalition formation; experiment; insiders' dilemma; mergers; antitrust;All these keywords.
JEL classification:
- C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
- C92 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Group Behavior
- G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
- L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
- L41 - Industrial Organization - - Antitrust Issues and Policies - - - Monopolization; Horizontal Anticompetitive Practices
NEP fields
This paper has been announced in the following NEP Reports:- NEP-MIC-2001-12-14 (Microeconomics)
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hhs:sunrpe:2001_0008. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Anne Jensen (email available below). General contact details of provider: https://edirc.repec.org/data/neisuse.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.