Anticompetitive Vertical Merger Waves
We develop a model of vertical merger waves and use it to study the optimal merger policy. As a merger wave can result in partial foreclosure, it can be optimal to ban a vertical merger that eliminates the last unintegrated upstream firm. Such a merger is more likely to worsen market performance whe...
| Main Authors: | , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Blackwell Publishing Ltd
2019
|
| Online Access: | View Fulltext in Publisher |