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Essays on horizontal market concentration : accounting for firms' strategies and designing merger control

Abstract : This dissertation aims to provide further theoretical insight, both positive and normative, for the analysis of horizontal mergers. The first part will examine the individual private incentives to merge and some of the ensuing welfare consequences in a spatial framework.
The first chapter will review the theoretical literature dealing with horizontal market concentration in spatial models. The second chapter focuses on the impact of optimal postmerger location choice for merger profitability. Chapter three examines instead in a spatial setting the profitability link between acquisition and de-acquisition, given the possibility to optimally locate ex-post. The second part of the dissertation analyses the strategic interaction between the merging firms and the competition authorities, in light of their respective individual incentives and given the information asymmetry on the merger characteristics, so as to draw conclusions and make recommendations for the optimal profile of merger policy.
Chapter four takes stock on the challenges raised by this strategic interaction for both the theory and practice of merger control. Chapter five examines the impact of merger remedies for the merger efficiency defence, and concludes on the opportunity to apply them both within an optimal merger control. The last chapter sheds light on the design of divestiture contracts with asymmetric information, and proposes a revelation mechanism based on merger remedies to optimally screen notified mergers.
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Submitted on : Wednesday, March 14, 2007 - 3:05:22 PM
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  • HAL Id : tel-00136556, version 1

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Andreea Cosnita. Essays on horizontal market concentration : accounting for firms' strategies and designing merger control. Economics and Finance. Université Panthéon-Sorbonne - Paris I, 2006. English. ⟨tel-00136556⟩

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