منابع مشابه
Effective Defenses of Hospital Mergers in Concentrated Markets
Quality of Care Defenses Seasoned antitrust practitioners and their clients almost always claim that a proposed hospital merger will improve quality of care at one (or both) of the involved hospitals. When substantiated—meaning that the evidence supports the notion that a hospital merger will improve the quality of care at the affected hospitals—such claims may well carry the day, overcoming hi...
متن کاملMergers in Bidding Markets
We analyze the effects of mergers in first-price sealed-bid auctions on bidders’ equilibrium bidding functions and on revenue. We also study the incentives of bidders to merge given the private information they have. We develop two models, depending on how after-merger valuations are created. In the first, single-aspect model, the valuation of the merged firm is the maximum of the valuations of...
متن کاملCompetition and Cascades in Markets: an Agent-Based Model of endogenous Mergers
We present an agent-based model of endogenous merger formation in a market with turnover of market participants. We describe the dynamics of the model and identify the conditions under which market competition is sufficiently disrupted to prompt extended periods during which mergers are desirable. We also demonstrate how merger waves can be triggered by industry shocks and firm overconfidence. ...
متن کاملMeasuring Anticompetitive Effects of Mergers When Buyer Power Is Concentrated
summa cum laude, Phi Beta Kappa, 1976, Purdue University; M.S. (Mathematics), 1978, Purdue University; M.S. (Economics), 1978, Purdue University; Ph.D. (Economics), 1980, Purdue University. **Professor of Economics, University of British Columbia. B.A. (Economics), 1977, University of British Columbia; M.A. (Economics), 1977, University of British Columbia; Ph.D. (Economics), 1982, University o...
متن کاملMerger waves: A model of endogenous mergers
We develop a model of endogenous mergers to study their dynamic process. Firms choose whether, when, and with whom to merge. Two necessary conditions are identi ed for mergers to occur: rm heterogeneity and negative demand shocks. We show that mergers are strategic complements and therefore tend to occur in waves. Moreover, some mergers occur for strategic reasons in order to precipitate furth...
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ژورنال
عنوان ژورنال: International Journal of Industrial Organization
سال: 2001
ISSN: 0167-7187
DOI: 10.1016/s0167-7187(99)00062-4