haku: @indexterm oligopoly / yhteensä: 382
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| Tekijä: | Salvo, A. |
| Otsikko: | Sequential cross-border mergers in models of oligopoly |
| Lehti: | Economica
2010 : APR, VOL. 77:306, p. 352-383 |
| Asiasana: | mergers oligopoly models |
| Kieli: | eng |
| Tiivistelmä: | Once outside firms respond pro-competitively, anti-competitive (henceforth as: a-c.) mergers may be held up. This study examines the cross-border (here as: c-b.) mergers' profitability by embedding a class of oligopoly models with mergers being a-c. and actions being strategic substitutes, in a sequential merger game in a 2-country setting. It is found that c-b. mergers: i. are held up only when 'international differences' are minimal, ii. happen in clusters, not in isolation, and iii. can be interdependent. There are illustrations in two standard oligopolies. Due to the 'bumpiness' of the world, it is suggested that the hold-up problem is less pervasive in an open-economy context. |
SCIMA