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Publicação
Merger policy in innovative industries
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Orientador(es)
Resumo(s)
We analyze optimal merger policy in R&D-intensive industries with product innovation aiming to improve the quality of products. Our results suggest that a permissive merger policy is rarely optimal in high-tech industries when the antitrust authority considers a welfare standard that balances the impact of mergers on con- sumers’ surplus and firms’ profits. In particular, relative to a benchmark where the effects from R&D are absent, we show that the optimal merger policy should not be substantially more permissive in the presence of those effects from R&D.
Descrição
Palavras-chave
Merger policy High-tech industries Endogenous quality Oligopoly
Contexto Educativo
Citação
González-Maestre, Miguel e Lluís M. Granero (2016). "Merger policy in innovative industries". Portuguese Economic Journal, 15(3):131-147
Editora
Springer Verlag