Endogenous mergers and maximal concentration: a note
This article examines the incentive to merge in a Bertrand competition model with generalized substitutability and price competition. The model suggests that acquisition of firms by their rivals can result in maximal concentration of the industry.
Volume (Year): 32 (2012)
Issue (Month): 1 ()
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- Morton I. Kamien & Israel Zang, 1988.
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- Perry, Martin K & Porter, Robert H, 1985. "Oligopoly and the Incentive for Horizontal Merger," American Economic Review, American Economic Association, vol. 75(1), pages 219-27, March.
- Gonzalez-Maestre, Miguel & Lopez-Cunat, Javier, 2001.
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Elsevier, vol. 19(8), pages 1263-1279, September.
- Salant, Stephen W & Switzer, Sheldon & Reynolds, Robert J, 1983. "Losses from Horizontal Merger: The Effects of an Exogenous Change in Industry Structure on Cournot-Nash Equilibrium," The Quarterly Journal of Economics, MIT Press, vol. 98(2), pages 185-99, May.
- Gaudet, Gerard & Salant, Stephen W., 1992. "Mergers of producers of perfect complements competing in price," Economics Letters, Elsevier, vol. 39(3), pages 359-364, July.
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