| Tekijä: | Gowrisankaran, G. |
| Otsikko: | A dynamic model of endogenous horizontal mergers |
| Lehti: | RAND Journal of Economics
1999 : SPRING, VOL. 30:1, p. 56-83 |
| Asiasana: | Economic theory Models Companies Mergers |
| Vapaa asiasana: | Profit maximization |
| Kieli: | eng |
| Tiivistelmä: | In this paper, a dynamic model of mergers is developed, where mergers, investment, entry, and exit are endogenous variables rationally chosen by firms to maximize expected future profits. This model differs from previous analyses in that it incorporates dynamics and endogenizes the merger process. The results demonstrate that this type of analysis is feasible and can potentially be used as a tool for antitrust policy analysis. |
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