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• W2026744489 abstract "We examine vertical backward integration in a reduced-form model of successive oligopolies. Our key findings are: (i) There may be asymmetric equilibria where some firms integrate and others remain separated, even if firms are symmetric initially; (ii) Efficient firms are more likely to integrate vertically. As a result, integrated firms also tend to have a large market share. The driving force behind these findings are demand/mark-up complementarities in the product market. We also identify countervailing forces resulting from strong vertical foreclosure, upstream sales and endogenous acquisition costs." @default.
• W2026744489 created "2016-06-24" @default.
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• W2026744489 date "2005-01-04" @default.
• W2026744489 modified "2023-10-10" @default.
• W2026744489 title "Asymmetric Vertical Integration" @default.
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• W2026744489 doi "https://doi.org/10.2202/1534-5963.1164" @default.
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