Mergers between Asymmetric Firms: Profitability and Welfare
Using only information on the degree of concavity of demand and observable structural variables such as the market shares of firms, a necessary and sufficient condition for a merger to increase welfare is derived. On the profitability side, we obtain that when market size decreases merger profitability increases. Copyright 2002 by Blackwell Publishers Ltd and The Victoria University of Manchester
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Volume (Year): 70 (2002)
Issue (Month): 1 (January)
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