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Mergers after cartels: How markets react to cartel breakdown

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  • Stephen Davies
  • Peter Ormosi
  • Martin Graffenberger

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  • Stephen Davies & Peter Ormosi & Martin Graffenberger, 2015. "Mergers after cartels: How markets react to cartel breakdown," Journal of Law and Economics, University of Chicago Press, vol. 58(3).
    • Handle: RePEc:ucp:jlawec:doi:10.1086/684227
    DOI: 10.1086/684227
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    3. Cosnita-Langlais, Andreea & Tropeano, Jean-Philippe, 2013. "Fight cartels or control mergers? On the optimal allocation of enforcement efforts within competition policy," International Review of Law and Economics, Elsevier, vol. 34(C), pages 34-40.
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    8. Kumar, Vikram & Marshall, Robert C. & Marx, Leslie M. & Samkharadze, Lily, 2015. "Buyer resistance for cartel versus merger," International Journal of Industrial Organization, Elsevier, vol. 39(C), pages 71-80.
    9. John Connor, 2001. "“Our Customers Are Our Enemies”: The Lysine Cartel of 1992–1995," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 18(1), pages 5-21, February.
    10. Joseph A. Clougherty & Tomaso Duso, 2009. "The Impact of Horizontal Mergers on Rivals: Gains to Being Left Outside a Merger," Journal of Management Studies, Wiley Blackwell, vol. 46(8), pages 1365-1395, December.
    11. Jarrell, Gregg A & Bradley, Michael, 1980. "The Economic Effects of Federal and State Regulations of Cash Tender Offers," Journal of Law and Economics, University of Chicago Press, vol. 23(2), pages 371-407, October.
    12. Eckbo, B. Espen, 1983. "Horizontal mergers, collusion, and stockholder wealth," Journal of Financial Economics, Elsevier, vol. 11(1-4), pages 241-273, April.
    13. Fonseca, Miguel A. & Normann, Hans-Theo, 2012. "Explicit vs. tacit collusion—The impact of communication in oligopoly experiments," European Economic Review, Elsevier, vol. 56(8), pages 1759-1772.
    14. Hüschelrath, Kai & Smuda, Florian, 2013. "Do cartel breakdowns induce mergers? Evidence from EC cartel cases," ZEW Discussion Papers 13-036, ZEW - Leibniz Centre for European Economic Research.
    15. George Symeonidis, 2002. "The Effects of Competition: Cartel Policy and the Evolution of Strategy and Structure in British Industry," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262194686, April.
    16. Ivaldi, Marc & Jullien, Bruno & Rey, Patrick & Seabright, Paul & Tirole, Jean, 2003. "The Economics of Tacit Collusion," IDEI Working Papers 186, Institut d'Économie Industrielle (IDEI), Toulouse.
    17. Compte, Olivier & Jenny, Frederic & Rey, Patrick, 2002. "Capacity constraints, mergers and collusion," European Economic Review, Elsevier, vol. 46(1), pages 1-29, January.
    18. Simon J. Evenett & Margaret C. Levenstein & Valerie Y. Suslow, 2001. "International Cartel Enforcement: Lessons from the 1990s," The World Economy, Wiley Blackwell, vol. 24(9), pages 1221-1245, September.
    19. Stephen Davies & Peter L. Ormosi & Martin Graffenberger, 2014. "Mergers after cartels: How markets react to cartel breakdown," Working Paper series, University of East Anglia, Centre for Competition Policy (CCP) 2014-01, Centre for Competition Policy, University of East Anglia, Norwich, UK..
    20. Andreoli-Versbach, Patrick & Franck, Jens-Uwe, 2013. "Actions Speak Louder than Words: Econometric Evidence to Target Tacit Collusion in Oligopolistic Markets," Discussion Papers in Economics 16179, University of Munich, Department of Economics.
    21. Mouraviev, Igor & Rey, Patrick, 2011. "Collusion and leadership," International Journal of Industrial Organization, Elsevier, vol. 29(6), pages 705-717.
    22. Mattias Ganslandt & Lars Persson & Helder Vasconcelos, 2012. "Endogenous Mergers and Collusion in Asymmetric Market Structures," Economica, London School of Economics and Political Science, vol. 79(316), pages 766-791, October.
    23. Mason, Charles F & Phillips, Owen R & Nowell, Clifford, 1992. "Duopoly Behavior in Asymmetric Markets: An Experimental Evaluation," The Review of Economics and Statistics, MIT Press, vol. 74(4), pages 662-670, November.
    24. Bittlingmayer, George, 1985. "Did Antitrust Policy Cause the Great Merger Wave?," Journal of Law and Economics, University of Chicago Press, vol. 28(1), pages 77-118, April.
    25. Tomaso Duso & Damien J. Neven & Lars-Hendrik Röller, 2007. "The Political Economy of European Merger Control: Evidence using Stock Market Data," Journal of Law and Economics, University of Chicago Press, vol. 50(3), pages 455-489.
    26. Gregor Andrade & Mark Mitchell & Erik Stafford, 2001. "New Evidence and Perspectives on Mergers," Journal of Economic Perspectives, American Economic Association, vol. 15(2), pages 103-120, Spring.
    27. Cosnita-Langlais, Andreea & Tropeano, Jean-Philippe, 2013. "Fight cartels or control mergers? On the optimal allocation of enforcement efforts within competition policy," International Review of Law and Economics, Elsevier, vol. 34(C), pages 34-40.
    28. Helder Vasconcelos, 2005. "Tacit Collusion, Cost Asymmetries, and Mergers," RAND Journal of Economics, The RAND Corporation, vol. 36(1), pages 39-62, Spring.
    29. Fee, C. Edward & Thomas, Shawn, 2004. "Sources of gains in horizontal mergers: evidence from customer, supplier, and rival firms," Journal of Financial Economics, Elsevier, vol. 74(3), pages 423-460, December.
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    Cited by:

    1. Franco Mariuzzo & Peter Ormosi & Richard Havell, 2016. "What can merger retrospectives tell us?An assessment of European mergers," Working Paper series, University of East Anglia, Centre for Competition Policy (CCP) 2016-04, Centre for Competition Policy, University of East Anglia, Norwich, UK..
    2. Catarina Marvão & Giancarlo Spagnolo, 2018. "Cartels and leniency: Taking stock of what we learnt," Chapters, in: Luis C. Corchón & Marco A. Marini (ed.), Handbook of Game Theory and Industrial Organization, Volume II, chapter 4, pages 57-90, Edward Elgar Publishing.
    3. Stefania Grezzana, 2016. "Lost In Time And Space: The Deterrence Effect Of Cartel Busts On The Retail Gasoline Market," Anais do XLIII Encontro Nacional de Economia [Proceedings of the 43rd Brazilian Economics Meeting] 158, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].

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