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A Treatment Effect Method for Merger Analysis with an Application to Parking Prices in Paris

Author

Listed:
  • Laurent Linnemer

    (CREST - Centre de Recherche en Économie et Statistique - ENSAI - Ecole Nationale de la Statistique et de l'Analyse de l'Information [Bruz] - Groupe ENSAE-ENSAI - Groupe des Écoles Nationales d'Économie et Statistique - X - École polytechnique - IP Paris - Institut Polytechnique de Paris - ENSAE Paris - École Nationale de la Statistique et de l'Administration Économique - Groupe ENSAE-ENSAI - Groupe des Écoles Nationales d'Économie et Statistique - IP Paris - Institut Polytechnique de Paris - CNRS - Centre National de la Recherche Scientifique)

  • Philippe Choné

    (ENSAE Paris - École Nationale de la Statistique et de l'Administration Économique - Groupe ENSAE-ENSAI - Groupe des Écoles Nationales d'Économie et Statistique - IP Paris - Institut Polytechnique de Paris)

Abstract

Most retrospective merger studies resort to the treatment effect approach, comparingthe price dynamics in a treatment group and in a control group. We propose asystematic method to construct the groups, which applies to any industry with spatialcompetition. The method is consistent with the fact that mergers alter oligopolisticequilibria in complex ways, and thus that seemingly distant entities may be affectedthrough indirect channels. An illustration based on a merger in the Parisian parkingmarket is provided.
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Suggested Citation

  • Laurent Linnemer & Philippe Choné, 2012. "A Treatment Effect Method for Merger Analysis with an Application to Parking Prices in Paris," Post-Print hal-01629757, HAL.
    • Handle: RePEc:hal:journl:hal-01629757
    DOI: 10.1111/joie.12003
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    Citations

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    Cited by:

    1. Gugler, Klaus & Szücs, Florian, 2016. "Merger externalities in oligopolistic markets," International Journal of Industrial Organization, Elsevier, vol. 47(C), pages 230-254.
    2. Luca Aguzzoni & Elena Argentesi & Lorenzo Ciari & Tomaso Duso & Massimo Tognoni, 2016. "Ex post Merger Evaluation in the U.K. Retail Market for Books," Journal of Industrial Economics, Wiley Blackwell, vol. 64(1), pages 170-200, March.
    3. Orley Ashenfelter & Daniel Hosken & Matthew Weinberg, 2014. "Did Robert Bork Understate the Competitive Impact of Mergers? Evidence from Consummated Mergers," Journal of Law and Economics, University of Chicago Press, vol. 57(S3), pages 67-100.
    4. Marie-Laure Allain & Claire Chambolle & Stéphane Turolla & Sofia B. Villas-Boas, 2017. "Retail Mergers and Food Prices: Evidence from France," Journal of Industrial Economics, Wiley Blackwell, vol. 65(3), pages 469-509, September.
    5. De Nijs, Romain, 2012. "The price discrimination effect of a large merger of parking garages," Economics Letters, Elsevier, vol. 117(3), pages 928-931.
    6. Inci, Eren & Lindsey, Robin, 2015. "Garage and curbside parking competition with search congestion," Regional Science and Urban Economics, Elsevier, vol. 54(C), pages 49-59.
    7. Fabusuyi, Tayo & Hampshire, Robert C., 2018. "Rethinking performance based parking pricing: A case study of SFpark," Transportation Research Part A: Policy and Practice, Elsevier, vol. 115(C), pages 90-101.
    8. Franco Mariuzzo & Peter L. Ormosi, 2017. "Post-merger price dynamics matter, so why do merger retrospectives ignore them?," Working Paper series, University of East Anglia, Centre for Competition Policy (CCP) 2016-05, Centre for Competition Policy, University of East Anglia, Norwich, UK..
    9. Elena Argentesi & Albert Banal-Estanol & Jo Seldeslachts, 2021. "A Retrospective Evaluation of the GDF/Suez Merger: Effects on the Belgian Gas Hub," The Energy Journal, , vol. 42(6), pages 199-228, November.
    10. Marie-Laure Allain & Claire Chambolle & Stéphane Turolla & Sofia Villas-Boas, 2013. "The Impact of Retail Mergers on Food Prices: Evidence from France," Working Papers hal-00920460, HAL.
    11. Luca Aguzzoni & Benno Buehler & Luca Martile & Ron Kemp & Anton Schwarz, 2018. "Ex-post Analysis of Mobile Telecom Mergers: The Case of Austria and The Netherlands," De Economist, Springer, vol. 166(1), pages 63-87, March.
    12. Csorba, Gergely & Pápai, Zoltán, 2013. "Does one more or one less mobile opertor affect prices? A comprehensive ex-post evaluation of entries and mergers in European mobile telecommunication markets," 24th European Regional ITS Conference, Florence 2013 88503, International Telecommunications Society (ITS).
    13. Albalate, Daniel & Gragera, Albert, 2017. "The determinants of garage prices and their interaction with curbside regulation," Transportation Research Part A: Policy and Practice, Elsevier, vol. 101(C), pages 86-97.
    14. Elena Argentesi & Albert Banal-Estañol & Jo Seldeslachts & Meagan Andrews, 2017. "A retrospective evaluation of the GDF/Suez merger: Effects on gas hub prices," Working Papers of Department of Management, Strategy and Innovation, Leuven 582764, KU Leuven, Faculty of Economics and Business (FEB), Department of Management, Strategy and Innovation, Leuven.
    15. Gergely Csorba & Gabor Koltay & David Farkas, 2011. "Separating the ex post effects of mergers: an analysis of structural changes on the Hungarian retail gasoline market," CERS-IE WORKING PAPERS 1118, Institute of Economics, Centre for Economic and Regional Studies.
    16. Inci, Eren, 2015. "A review of the economics of parking," Economics of Transportation, Elsevier, vol. 4(1), pages 50-63.

    More about this item

    JEL classification:

    • L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
    • L40 - Industrial Organization - - Antitrust Issues and Policies - - - General

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