Skip to main content Accessibility help
×
Hostname: page-component-857557d7f7-qr8hc Total loading time: 0 Render date: 2025-12-11T00:00:46.831Z Has data issue: false hasContentIssue false

Chapter 4 - Advances in Horizontal Merger Analysis

from Part II - Topics in Industrial Organization

Published online by Cambridge University Press:  28 November 2025

Victor Chernozhukov
Affiliation:
Massachusetts Institute of Technology
Johannes Hörner
Affiliation:
Yale University, Connecticut
Eliana La Ferrara
Affiliation:
Harvard University, Massachusetts
Iván Werning
Affiliation:
Massachusetts Institute of Technology
Get access

Summary

Every 5 years, the World Congress of the Econometric Society brings together scholars from around the world. Leading scholars present state-of-the-art overviews of their areas of research, offering newcomers access to key research in economics. Advances in Economics and Econometrics: Twelfth World Congress consists of papers and commentaries presented at the Twelfth World Congress of the Econometric Society. This two-volume set includes surveys and interpretations of key developments in economics and econometrics, and discussions of future directions for a variety of topics, covering both theory and application. The first volume addresses such topics as contract theory, industrial organization, health and human capital, as well as racial justice, while the second volume includes theoretical and applied papers on climate change, time-series econometrics, and causal inference. These papers are invaluable for experienced economists seeking to broaden their knowledge or young economists new to the field.

Information

Type
Chapter
Information
Advances in Economics and Econometrics
Twelfth World Congress
, pp. 125 - 150
Publisher: Cambridge University Press
Print publication year: 2025

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

Book purchase

Temporarily unavailable

References

Affeldt, P., Duso, T., and Szücs, F. (2018). “EU merger control database: 1990–2014.” Deutsches Institut für Wirtschaftsforschung, Data Documentation 95.Google Scholar
Bourreau, M., Jullien, B., and Lefouili, Y. (2019). “Mergers and demand-enhancing innovation.” Mimeo.Google Scholar
Breinlich, H., Nocke, V., and Schutz, N. (2017). “International aspects of merger policy: A survey,” International Journal of Industrial Organization, 50, 415429.10.1016/j.ijindorg.2016.05.001CrossRefGoogle Scholar
Breinlich, H., Nocke, V., and Schutz, N. (2020). “Merger policy in a quantitative model of international trade,” Economic Journal, 130, 393421.Google Scholar
Compte, O., Jenny, F., and Rey, P. (2002). “Capacity constraints, mergers and collusion,” European Economic Review, 46(1), 129.10.1016/S0014-2921(01)00099-XCrossRefGoogle Scholar
Ericson, R., and Pakes, A. (1995). “Markov-perfect industry dynamics: A framework for empirical work,” Review of Economic Studies, 62(1), 5382.10.2307/2297841CrossRefGoogle Scholar
Farrell, J., and Shapiro, C. (1990). “Horizontal mergers: An equilibrium analysis,” American Economic Review, 80(1), 107126.Google Scholar
Friberg, R., and Romahn, A. (2015). “Divestiture requirements as a tool for competition policy: A case from the Swedish beer market,” International Journal of Industrial Organization, 42, 118.10.1016/j.ijindorg.2015.06.005CrossRefGoogle Scholar
Johnson, J. P., and Myatt, D. P. (2006). “Multiproduct Cournot oligopoly,” RAND Journal of Economics, 37(3), 583601.10.1111/j.1756-2171.2006.tb00032.xCrossRefGoogle Scholar
Johnson, J. P., and Rhodes, A. (2021). “Multiproduct mergers and quality competition,” RAND Journal of Economics, 52(3), 633661.10.1111/1756-2171.12386CrossRefGoogle Scholar
Lahiri, S., and Ono, Y. (1988). “Helping minor firms reduces welfare,” Economic Journal, 98(393), 11991202.10.2307/2233727CrossRefGoogle Scholar
Lyons, B. R. (2003). “Could politicians be more right than economists? A theory of merger standards.” European University Institute Working Paper 2003/14.Google Scholar
McManus, M. (1962). “Numbers and size in Cournot oligopoly,” Yorkshire Bulletin of Social and Economic Research, 14(1), 1422.10.1111/j.1467-8586.1962.tb00310.xCrossRefGoogle Scholar
McManus, M. (1964). “Equilibrium, numbers and size in Cournot oligopoly,” Yorkshire Bulletin of Social and Economic Research, 16(2), 6875.10.1111/j.1467-8586.1964.tb00517.xCrossRefGoogle Scholar
Mermelstein, B., Nocke, V., Satterthwaite, M. A., and Whinston, M. D. (2020). “Internal versus external growth in industries with scale economies: A computational model of optimal merger policy,” Journal of Political Economy, 128(1), 301341.10.1086/704069CrossRefGoogle Scholar
Miller, N. H., and Weinberg, M. C. (2017). “Understanding the price effects of the Miller–Coors joint venture,” Econometrica, 85(6), 17631791.10.3982/ECTA13333CrossRefGoogle Scholar
Motta, M., and Tarantino, E. (2021). “The effect of horizontal mergers, when firms compete in prices and investments,” International Journal of Industrial Organization, 78, 102774.10.1016/j.ijindorg.2021.102774CrossRefGoogle Scholar
Nocke, V., and Rhodes, A. (2025). “Optimal merger remedies.” Mimeo.Google Scholar
Nocke, V., and Schutz, N. (2018). “Multiproduct-firm oligopoly: An aggregative games approach,” Econometrica, 86(2), 523557.10.3982/ECTA14720CrossRefGoogle Scholar
Nocke, V., and Schutz, N. (2018). “An aggregative games approach to merger analysis in multiproduct-firm oligopoly.” CEPR Discussion Paper 12905.Google Scholar
Nocke, V., and Whinston, M. D. (2010). “Dynamic merger review,” Journal of Political Economy, 118(6), 12001251.10.1086/658161CrossRefGoogle Scholar
Nocke, V., and Whinston, M. D. (2013). “Merger policy with merger choice,” American Economic Review, 103(2), 10061033.10.1257/aer.103.2.1006CrossRefGoogle Scholar
Nocke, V., and Whinston, M. D. (2022). “Concentration thresholds for horizontal mergers,” American Economic Review, 112(6), 19151948.10.1257/aer.20201038CrossRefGoogle Scholar
Novshek, W. (1985). “On the existence of Cournot equilibrium,” Review of Economic Studies, 52(1), 8598.10.2307/2297471CrossRefGoogle Scholar
Pakes, A., and McGuire, P. (1994). “Computing Markov-perfect Nash equilibria: Numerical implications of a dynamic differentiated product model,” RAND Journal of Economics, 25(4), 555589.10.2307/2555975CrossRefGoogle Scholar
Rasmusen, E. (1988). “Entry for buyout,” Journal of Industrial Economics, 36(3), 281300.10.2307/2098468CrossRefGoogle Scholar
Segal, I. (1999). “Contracting with externalities,” Quarterly Journal of Economics, 114(2), 337388.10.1162/003355399556016CrossRefGoogle Scholar
Selten, R. (1970). Preispolitik der Mehrproduktenunternehmung in der Statischen Theorie. Berlin: Springer.10.1007/978-3-642-48888-7CrossRefGoogle Scholar
Szidarovszky, F., and Yakowitz, S. (1977). “A new proof of the existence and uniqueness of the Cournot equilibrium,” International Economic Review, 18(3), 787789.10.2307/2525963CrossRefGoogle Scholar
Vergé, T. (2010). “Horizontal mergers, structural remedies, and consumer welfare in a Cournot oligopoly with assets,” Journal of Industrial Economics, 58(4), 723741.10.1111/j.1467-6451.2010.00432.xCrossRefGoogle Scholar
Whinston, M. D. (2007). “Chapter 36: Antitrust policy toward horizontal mergers.” In Armstrong, M. and Porter, R. H. (eds.), Handbook of Industrial Organization, vol. 3. Amsterdam: Elsevier, pp. 2369–2440.Google Scholar
Williamson, O. (1968). “Economies as an antitrust defense: The welfare tradeoffs,” American Economic Review, 58(1), 1836.Google Scholar
Zhao, J. (2001). “A characterization for the negative welfare effects of cost reduction in Cournot oligopoly,” International Journal of Industrial Organization, 19(3–4), 455469.10.1016/S0167-7187(99)00050-8CrossRefGoogle Scholar

Accessibility standard: Inaccessible, or known limited accessibility

Why this information is here

This section outlines the accessibility features of this content - including support for screen readers, full keyboard navigation and high-contrast display options. This may not be relevant for you.

Accessibility Information

The PDF of this book is known to have missing or limited accessibility features. We may be reviewing its accessibility for future improvement, but final compliance is not yet assured and may be subject to legal exceptions. If you have any questions, please contact accessibility@cambridge.org.

Content Navigation

Table of contents navigation
Allows you to navigate directly to chapters, sections, or non‐text items through a linked table of contents, reducing the need for extensive scrolling.
Index navigation
Provides an interactive index, letting you go straight to where a term or subject appears in the text without manual searching.

Save book to Kindle

To save this book to your Kindle, first ensure no-reply@cambridge.org is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

Available formats
×