Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/95203
Authors: 
Stennek, Johan
Year of Publication: 
2001
Series/Report no.: 
IUI Working Paper 558
Abstract: 
Markets with imperfect competition do not induce a cost-minimizing allocation of production between firms. The market's ability to rationalize production is even more limited if costs are private information to firms. Merger in such markets generate an efficiency gain associated with the pooling of information. Not only may costs be reduced, the price level and price variability may also decline and consumers may thus gain.
Subjects: 
Horizontal Merger
Welfare
Asymmetric Information
JEL: 
D43
D82
G34
L10
Document Type: 
Working Paper

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