Mergers and the evolution of industry concentration: Results from the dominant-firm model

RAND Journal of Economics

Volumn 35, Issue 3, 2004, Pages 561-582

  Gowrisankaran, Gautam ^a   Holmes, Thomas J ^b  

^a WASHINGTON UNIVERSITY   (United States)

^b UNIVERSITY OF MINNESOTA   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 8644260952     PISSN: 07416261     EISSN: None     Source Type: Journal    
DOI: 10.2307/1593708     Document Type: Article

References (28)

1. CARLTON, D.W. AND PERLOFF, J.M. Modern Industrial Organization. 2d ed. New York: HarperCollins, 1994.
2. CHEONG, K.S. AND JUDD, K. "Mergers and Dynamic Oligopoly." Mimeo, Hoover Institution, Stanford University, 1992.
3. CHERNOW, R. Titan: The Life of John D. Rockefeller, Sr. New York: Random House, 1998.
4. DENECKERE, R. AND DAVIDSON, C. "Incentives to Form Coalitions with Bertrand Competition." RAND Journal of Economics, Vol. 16 (1985), pp. 473-486.
5. DIXIT, A. "The Role of Investment in Entry-Deterrence." Economic Journal, Vol. 90 (1980), pp. 95-106.
6. FUDENBERG, D. AND LEVINE, D. "Limit Games and Limit Equilibria." Journal of Economic Theory, Vol. 38 (1986), pp. 261-279.
7. GILBERT, R.J. AND NEWBERY, D.G.M. "Preemptive Patenting and the Persistence of Monopoly." American Economic Review, Vol. 72 (1982), pp. 514-526.
8. GOWRISANKARAN, G. "A Dynamic Model of Endogenous Horizontal Mergers." RAND Journal of Economics, Vol. 30 (1999), pp. 56-83.
9. - AND HOLMES, T.J. Notes for "Mergers and the Evolution of Concentration: Results from the Dominant Firm Model." Available at http://www.econ.umn.edu/~holmes/papers/merger_notes.pdf, 2003.
10. HOLMES, T.J. "Can Consumers Benefit from a Policy Limiting the Market Share of a Dominant Firm?" International Journal of Industrial Organization, Vol. 14 (1996), pp. 365-387.
11. KAMIEN, M.I. AND ZANG, I. "The Limits of Monopolization through Acquisition." Quarterly Journal of Economics, Vol. 105 (1990), pp. 465-499.
12. KRISHNA, K. "Auctions with Endogenous Valuations: The Persistence of Monopoly Revisited." American Economic Review, Vol. 83 (1993), pp. 147-160.
13. KYDLAND, F. "A Dynamic Dominant Firm Model of Industry Structure." Scandinavian Journal of Economics, Vol. 81 (1979), pp. 355-366.
14. LEEMAN, W.A. "The Limitations of Local Price-cutting as a Barrier to Entry." Journal of Political Economy, Vol. 64 (1956), pp. 329-334.
15. LEHTO, P. AND TOMBAK, M.M. "Consolidations and the Sequence of Acquisitions to Monopoly." Manuscript, Kellogg Graduate School of Management, Northwestern University, 1999.
16. LEWIS, T.R. "Preemption, Divestiture, and Forward Contracting in a Market Dominated by a Single Firm." American Economic Review, Vol. 73 (1983), pp. 1092-1101.
17. LUCAS, R.E., JR. "Adjustment Costs and the Theory of Supply." Journal of Political Economy, Vol. 75 (1967), pp. 321-334.
18. MASKIN, E. AND TIROLE, J. "Markov Perfect Equilibrium." Journal of Economic Theory, Vol. 100 (2001), pp. 191-219.
19. NOCKE, V.N. "Monopolisation and Industry Structure." Mimeo, Oxford University, 2000.
20. PERRY, M.K. AND PORTER, R.H. "Oligopoly and the Incentive for Horizontal Merger." American Economic Review, Vol. 75 (1985), pp. 219-227.
21. PRESCOTT, E.C. AND VISSCHER, M. "Organization Capital." Journal of Political Economy, Vol. 88 (1980), pp. 446-461.
22. RASMUSEN, E. "Entry for Buyout." Journal of Industrial Economics, Vol. 36 (1988), pp. 281-299.
23. SALANT, S.W., SWITZER, S., AND REYNOLDS, R.J. "Losses from Horizontal Merger: The Effects of an Exogenous Change in Industry Structure on Cournot-Nash Equilibrium." Quarterly Journal of Economics, Vol. 98 (1983), pp. 185-199.
24. SHLEIFER, A. AND VISHNY, R.W. "Large Shareholders and Corporate Control." Journal of Political Economy, Vol. 94 (1986), pp. 461-488.
25. SPENCE, A.M. "Entry, Capacity, Investment and Oligopolistic Pricing." Bell Journal of Economics, Vol. 8 (1977), pp. 534-544.
26. STIGLER, G.J. "Monopoly and Oligopoly by Merger." American Economic Review Papers and Proceedings, Vol. 40 (1950), pp. 23-34.
27. -. The Organization of Industry. Homewood, Ill.: R.D. Irwin, 1968.
28. ZERBE, R. "The American Sugar Refinery Company, 1887-1914: The Story of a Monopoly." Journal of Law and Economics, Vol. 12 (1969), pp. 339-375.