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Cartelizing effects of horizontal shareholding interlocks


  • Ugo Merlone

    (D.S.M.A.S.U., University of Turin, Turin, Italy)


Some models of industries with horizontal shareholding interlocks are generalized. First, we consider industries where firms exhibit different technologies and more general market demand functions. The cartelizing effects of financial interlocks are examined using both the Lerner index and the Herfindahl-Hirshman index. Furthermore, the model is extended to consider multiproduct oligopolies. We find a compact expression for the Lerner index and study the cartelizing effects of such an industry. Copyright © 2001 John Wiley & Sons, Ltd.

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  • Ugo Merlone, 2001. "Cartelizing effects of horizontal shareholding interlocks," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 22(6), pages 333-337.
  • Handle: RePEc:wly:mgtdec:v:22:y:2001:i:6:p:333-337 DOI: 10.1002/mde.1010

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    References listed on IDEAS

    1. Flath, David, 1991. "When is it rational for firms to acquire silent interests in rivals?," International Journal of Industrial Organization, Elsevier, vol. 9(4), pages 573-583, December.
    2. Reynolds, Robert J. & Snapp, Bruce R., 1986. "The competitive effects of partial equity interests and joint ventures," International Journal of Industrial Organization, Elsevier, vol. 4(2), pages 141-153, June.
    3. Bresnahan, Timothy F. & Salop, Steven C., 1986. "Quantifying the competitive effects of production joint ventures," International Journal of Industrial Organization, Elsevier, vol. 4(2), pages 155-175, June.
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    Cited by:

    1. Akio Matsumoto & Ugo Merlone & Ferenc Szidarovszky, 2009. "Dynamic oligopoly with partial cooperation and antitrust threshold," Post-Print hal-00732525, HAL.
    2. Matsumoto, Akio & Merlone, Ugo & Szidarovszky, Ferenc, 2010. "Dynamic oligopoly with partial cooperation and antitrust threshold," Journal of Economic Behavior & Organization, Elsevier, vol. 73(2), pages 259-272, February.

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