Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/62261
Authors: 
Huck, Steffen
Konrad, Kai A.
Müller, Wieland
Year of Publication: 
2000
Series/Report no.: 
Discussion Papers, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes 2000,27
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.
Subjects: 
efficient hedging
quantile hedging
jump-diffusion
martingale measure.
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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