Monopolization through acquisitions in a differentiated product industry
This article analyzes the incentive to merge in a context of price competition with horizontal product differentiation. In contrast to the results obtained by Kamien and Zang (1990), we show that merged equilibria can appear in this game. Moreover monopolization of the industry occurs with a high number of firms.
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- Javier M. López Cuñat & Miguel González-Maestre, 1999.
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"Horizontal Mergers: An Equilibrium Analysis,"
17, Princeton, Woodrow Wilson School - Discussion Paper.
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- Kamien, Morton I & Zang, Israel, 1993. "Monopolization by Sequential Acquisition," Journal of Law, Economics and Organization, Oxford University Press, vol. 9(2), pages 205-29, October.
- Caillaud Bernard & Jullien Bruno & Picard Pierre, 1991.
"Competing vertical structures : precommitment and renegotiation,"
CEPREMAP Working Papers (Couverture Orange)
- Caillaud, Bernard & Jullien, B & Picard, P, 1995. "Competing Vertical Structures: Precommitment and Renegotiation," Econometrica, Econometric Society, vol. 63(3), pages 621-46, May.
- Morton I. Kamien & Israel Zang, 1987.
"The Limits of Monopolization Through Acquisition,"
754, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Ziss, Steffen, 2001. "Horizontal mergers and delegation," International Journal of Industrial Organization, Elsevier, vol. 19(3-4), pages 471-492, March.
- 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.
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