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Vertical Integration And Market Foreclosure
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Book Synopsis Vertical Integration and Market Foreclosure by : Oliver D. Hart
Download or read book Vertical Integration and Market Foreclosure written by Oliver D. Hart and published by . This book was released on 1990 with total page 79 pages. Available in PDF, EPUB and Kindle. Book excerpt: Few people would disagree with the proposition that horizontal mergers have the potential to restrict output and raise consumer prices. In contrast, there is much less agreement about the anti-competitive effects of vertical mergers. The purpose of this paper is to develop a theoretical model showing how vertical integration changes the nature of competition in upstream and downstream markets and identifying conditions under which market foreclosure will be a consequence or even a purpose of such integration. In contrast to much of the literature, we do not restrict upstream and downstream firms to particular contractual arrangements, but instead allow firms to choose from a full set of contractual arrangements both when integrated and when not. We also allow non-integrated firms to respond optimally to the integration decisions of other firms, either by remaining nonintegrated, exiting the industry or integrating too (i.e. bandwagoning). In a final section we use our analysis to shed some light on a number of prominent vertical merger cases, involving computer reservation systems for airlines, the cement industry and the St. Louis Terminal Railroad.
Book Synopsis Vertical Integration and Market Foreclosure with Convex Downstream Costs by : Pio Baake
Download or read book Vertical Integration and Market Foreclosure with Convex Downstream Costs written by Pio Baake and published by . This book was released on 2001 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Investment Specificity, Vertical Integration and Market Foreclosure by : Frank Bickenbach
Download or read book Investment Specificity, Vertical Integration and Market Foreclosure written by Frank Bickenbach and published by . This book was released on 1996 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Vertical Integration, Market Foreclosure and Quality Investment by :
Download or read book Vertical Integration, Market Foreclosure and Quality Investment written by and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Market Foreclosure and Strategic Vertical Integration in Successive Oligopolies by : Randall E. Waldron
Download or read book Market Foreclosure and Strategic Vertical Integration in Successive Oligopolies written by Randall E. Waldron and published by . This book was released on 1994 with total page 434 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Law and Economics of Vertical Integration and Control by : Roger D. Blair
Download or read book Law and Economics of Vertical Integration and Control written by Roger D. Blair and published by Academic Press. This book was released on 2014-05-10 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: Law and Economics of Vertical Integration and Control focuses on the processes, methodologies, and approaches involved in the law and economics of vertical integration and control. The publication first elaborates on transaction costs, fixed proportions and contractual alternatives, and variable proportions and contractual alternatives. Discussions focus on sales revenue royalties, ownership integration, output royalties, important product-specific services, successive monopoly, advantages and limitations of internal transfers, and transaction cost determinants. The text then examines vertical integration under uncertainty and vertical integration without contractual alternatives. The book ponders on legal treatment of ownership integration and per se illegal contractual controls. Topics include tying arrangements, public policy assessment, resale price maintenance, vertical integration and the Sherman Act, market foreclosure doctrine, and the 1982 Merger Guidelines. The text also takes a look at contractual controls that are not illegal per se, alternative legal rules, and antitrust policy. The publication is a dependable reference for researchers interested in the law and economics of vertical integration and control.
Book Synopsis Vertical Mergers, Foreclosure and Raising Rivals' Costs - Experimental Evidence by : Hans-Theo Normann
Download or read book Vertical Mergers, Foreclosure and Raising Rivals' Costs - Experimental Evidence written by Hans-Theo Normann and published by . This book was released on 2010 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Double Marginalization, Market Foreclosure, and Vertical Integration by : Philippe Choné
Download or read book Double Marginalization, Market Foreclosure, and Vertical Integration written by Philippe Choné and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Double marginalization is a robust phenomenon in procurement under asymmetric information when sophisticated contracts can be implemented. In this context, vertical integration causes merger-specific elimination of double marginalization but biases the make-or-buy decision against independent suppliers. If the buyer has full bargaining power over prices and quantities, a vertical merger benefits final consumers even when it results in the exclusion of efficient suppliers. If on the contrary the buyer's bargaining power is reduced after she has committed to deal exclusively with a limited set of suppliers, exclusion of efficient suppliers may harm final consumers.
Download or read book Vertical Foreclosure written by and published by . This book was released on 2008 with total page 106 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Downstream Competition, Foreclosure and Vertical Integration by : Gilles Chemla
Download or read book Downstream Competition, Foreclosure and Vertical Integration written by Gilles Chemla and published by . This book was released on 2000 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Equilibrium Vertical Foreclosure (Classic Reprint) by : Janusz A. Ordover
Download or read book Equilibrium Vertical Foreclosure (Classic Reprint) written by Janusz A. Ordover and published by Forgotten Books. This book was released on 2018-02-21 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from Equilibrium Vertical Foreclosure This controversy can be seen more clearly by making the vertical foreclosure theory more specific.5 According to the theory, a single vertical merger can disadvantage downstream rivals as follows.6 Consider a market in which the supply of inputs is competitive before the merger and there are no production efficiency benefits gained from vertical integration. After the merger, suppose the upstream division of the now-integrated firm refuses to supply inputs to the rivals of its downstream division. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Book Synopsis The Costs and Benefits of Ownership by : Sanford J. Grossman
Download or read book The Costs and Benefits of Ownership written by Sanford J. Grossman and published by . This book was released on 1984 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Market Structure and the Competitive Effects of Vertical Integration by : Simon Loertscher
Download or read book Market Structure and the Competitive Effects of Vertical Integration written by Simon Loertscher and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyze the competitive effects of backward vertical integration when firms exert market power upstream and compete à la Cournot downstream. Contrasting with previous literature, a small degree of vertical integration is always procompetitive because efficiency gains dominate foreclosure effects, and vertical integration even to full foreclosure can be procompetitive. Surprisingly, vertical integration is more likely to be procompetitive if the industry is otherwise more concentrated. Extensions analyze incentives to integrate and differentiated Bertrand competition downstream. Our analysis suggests that antitrust authorities should be wary of vertical integration when the integrating firm faces many competitors and should be permissive otherwise.
Book Synopsis Vertical Foreclosure in Experimental Markets by : Stephen Martin
Download or read book Vertical Foreclosure in Experimental Markets written by Stephen Martin and published by . This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We report the results of experiments designed to test recent theories of vertical foreclosure. Consistent with the theory, vertical integration improves the upstream firm's ability to commit to restricting output to the monopoly level, as does the use of public contracts. Public contracts are not a perfect substitute for vertical integration, however: integration allows more surplus to be extracted from the unintegrated downstream firm, a bargaining effect that has been underemphasized in the recent foreclosure literature. Motivated by some observations that are difficult to reconcile with existing theory, we extend the theory to allow downstream firms to have heterogeneous (rather than purely passive or symmetric) out-of-equilibrium beliefs.
Book Synopsis Equilibrium Vertical Foreclosure with Investment by : Jay Pil Choi
Download or read book Equilibrium Vertical Foreclosure with Investment written by Jay Pil Choi and published by . This book was released on 1996 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis U.S. Department of Justice Merger Guidelines by : United States. Department of Justice. Antitrust Division
Download or read book U.S. Department of Justice Merger Guidelines written by United States. Department of Justice. Antitrust Division and published by . This book was released on 1984 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Antitrust Paradox by : Robert Bork
Download or read book The Antitrust Paradox written by Robert Bork and published by . This book was released on 2021-02-22 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most important book on antitrust ever written. It shows how antitrust suits adversely affect the consumer by encouraging a costly form of protection for inefficient and uncompetitive small businesses.
