Arbeitspapier
Horizontal Mergers with Capital Adjustments: Workers' Cooperatives and the Merger Paradox
We study the incentives towards horizontal merger among firms when the amount of capital is the strategic variable. The type of firms we focus on is workers' cooperatives, but our conclusions apply also to employment-constrained profit maximisers. Within a simple oligopoly model, we prove that the horizontal merger, for any merger size, is: (i) privately efficient for insiders as well as for outsiders; (ii) socially efficient if market size is large enough, including the case of merger to monopoly.
- Sprache
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Englisch
- Erschienen in
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Series: Quaderni - Working Paper DSE ; No. 962
- Klassifikation
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Wirtschaft
Market Structure, Pricing, and Design: Oligopoly and Other Forms of Market Imperfection
Oligopoly and Other Imperfect Markets
Business Objectives of the Firm
Monopolization; Horizontal Anticompetitive Practices
- Ereignis
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Geistige Schöpfung
- (wer)
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Delbono, Flavio
Lambertini, Luca
- Ereignis
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Veröffentlichung
- (wer)
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Alma Mater Studiorum - Università di Bologna, Dipartimento di Scienze Economiche (DSE)
- (wo)
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Bologna
- (wann)
-
2014
- DOI
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doi:10.6092/unibo/amsacta/4073
- Handle
- Letzte Aktualisierung
-
20.09.2024, 08:22 MESZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Delbono, Flavio
- Lambertini, Luca
- Alma Mater Studiorum - Università di Bologna, Dipartimento di Scienze Economiche (DSE)
Entstanden
- 2014