Vertical Merger Policy: Special Considerations in Regulated Industries

Vertical Merger Policy: Special Considerations in Regulated Industries

We examine the special considerations that vertical mergers can raise in regulated industries. We explain how regulation can affect the distribution of merger-induced benefits, the type of vertical mergers that arise, the potential for effective post-merger industry oversight, and the post-merger in...

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Veröffentlicht in:Review of industrial organization 2021-09, Vol.59 (2), p.393-407
Hauptverfasser: Sappington, David E. M., Weisman, Dennis L.
Format: Artikel
Sprache:eng
Schlagworte:
Acquisitions & mergers
Economics
Economics and Finance
Industrial Organization
Industry
Mergers
Microeconomics
Regulated industries
Regulation
Welfare
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Zusammenfassung:We examine the special considerations that vertical mergers can raise in regulated industries. We explain how regulation can affect the distribution of merger-induced benefits, the type of vertical mergers that arise, the potential for effective post-merger industry oversight, and the post-merger incentives of the merging entities. These considerations imply that vertical mergers that would reduce (enhance) welfare in unregulated settings can sometimes enhance (reduce) welfare in regulated settings.
ISSN:0889-938X
1573-7160
DOI:10.1007/s11151-021-09835-w