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A Retrospective Merger Analysis in the Long-Distance Bus Industry in France

Author

Listed:
  • Thierry Blayac

    (UM - Université de Montpellier, CEE-M - Centre d'Economie de l'Environnement - Montpellier - FRE2010 - INRA - Institut National de la Recherche Agronomique - UM - Université de Montpellier - CNRS - Centre National de la Recherche Scientifique - Montpellier SupAgro - Institut national d’études supérieures agronomiques de Montpellier)

  • Patrice Bougette

    (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis (1965 - 2019) - CNRS - Centre National de la Recherche Scientifique - UniCA - Université Côte d'Azur)

Abstract

This study estimates the price effects of horizontal mergers in the French long-distance bus industry. We examine two mergers that followed the 2015 deregulation Act of the Macron Law. Using a unique and exhaustive database, we identify price effects by comparing bus routes affected by mergers to unaffected routes using difference-in-difference estimations with propensity score matching. We find that the two mergers following industry deregulation seem to be associated with price increases and no efficiency gains. Those price increases are diminishing over time.

Suggested Citation

  • Thierry Blayac & Patrice Bougette, 2018. "A Retrospective Merger Analysis in the Long-Distance Bus Industry in France," Post-Print halshs-01839981, HAL.
    • Handle: RePEc:hal:journl:halshs-01839981
    as

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