Huck, Steffen; Konrad, Kai A. and Müller, Wieland
(25. April 2000):
Profitable horizontal mergers: A market structureoriented view.
Discussion Papers, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes
External fulltext: http://hdl.handle.net/10419/62261
Abstract
We propose a model in which mergers exert a more pronounced effect on the structure of a market than simply reducing the number of competitors. We show that this may render horizontal mergers profitable and welfare-improving even if costs are linear. The results help to reconcile theory with various empirical findings on mergers.
| Item Type: | Paper |
|---|---|
| Keywords: | efficient hedging; quantile hedging; jump-diffusion; martingale measure |
| Faculties: | Economics > Chairs > MPI for Tax Law and Public Finance |
| Subjects: | 300 Social sciences > 330 Economics |
| Language: | English |
| Item ID: | 24422 |
| Date Deposited: | 31. Mar 2015, 07:33 |
| Last Modified: | 03. Mar 2017, 10:54 |
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