Horizontal mergers with free-entry: why cost efficiencies may be a weak defense and asset sales a poor remedy
نویسندگان
چکیده
منابع مشابه
Horizontal mergers with free entry
We consider the impact of horizontal mergers in the presence of free entry and exit. In contrast to much of the previous literature on horizontal mergers, our model yields predictions that seem intuitively reasonable: with only moderate cost synergies mergers of a small number of industry participants are beneficial (even under quantity competition), there is no “free rider problem” in that ins...
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Horizontal mergers may be approved if antitrust authorities believe that new entry would limit any anticompetitive effects. This argument (‘the potential entry defense’) has led to mergers being approved in concentrated markets in several industries, including airlines. However, entry will be both less likely and less able to constrain market power if the pre-merger entry process has already se...
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ژورنال
عنوان ژورنال: International Journal of Industrial Organization
سال: 2003
ISSN: 0167-7187
DOI: 10.1016/s0167-7187(02)00145-5