search query: @indexterm RAIL TRANSPORT / total: 197
reference: 110 / 197
| Author: | Pittman, R. W. |
| Title: | Railroads and competition: the Santa Fe/Southern Pacific merger proposal. |
| Journal: | Journal of Industrial Economics
1990 : SEP, VOL. 39:1, p. 25-46 |
| Index terms: | MERGERS USA RAIL TRANSPORT COMPETITION LEGISLATION |
| Language: | eng |
| Abstract: | The Merger Guidelines of the USA Department of Justice provide the framework for a detailed analysis of the competitive implications of the proposed merger if the Santa Fe and Southern Pacific railroads. Although the gross welfare loss from the merger is found to be large - in the range of 40-230 million USD per year - the transfers from shippers to the railroads are much larger. Thus an overall welfare calculus requires not only an accurate estimate of the efficiencies resulting from the merger but also a judgement as to the welfare relevance of wealth transfers. The analysis also exhibits the importance of three factors: the loci of competitive harm; operating savings promised by the merger; the transfers of welfare losses. |
SCIMA