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- W3123097024 abstract "Abstract In this paper we use a two-stage game to model endogenous mergers. In the first stage of the game firms decide whether or not to merge, and in the second stage they compete on the product market. Merger occurrence is determined by the interplay of the initial number of firms in the industry, the expected competitive intensity, and the possibility of economizing on fixed costs through merger. It is shown that the equilibrium market concentration is decreasing in the first of these factors and increasing in the other two. Welfare implications are discussed." @default.
- W3123097024 created "2021-02-01" @default.
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- W3123097024 date "1998-03-01" @default.
- W3123097024 modified "2023-10-02" @default.
- W3123097024 title "ENDOGENOUS MERGERS and MARKET STRUCTURE" @default.
- W3123097024 hasPublicationYear "1998" @default.
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