Working Paper No. 558

Horizontal Mergers Without Synergies May Increase Consumer Welfare

Published: June 4, 2001 Pages: 13Keywords: Horizontal Merger; Welfare; Asymmetric InformationJEL-codes: D43; D82; G34; L10

Horizontal Mergers Without Synergies May Increase Consumer Welfare Johan Stennek


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.

 

An Agenda for Europe

Institutional Reform for Innovation and Entrepreneurship

Omslag 2017 Institutional Reform for Innovation and Entrepreneurship.jpg

The authors of this book, Niklas Elert, Magnus Henrekson and Mikael Stenkula, advise the economies of the European Union to become more entrepreneurial in promoting innovation and economic growth. The authors propose a reform strategy with respect to several aspects to achieve this goal.

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