The merger paradox is a classic, counter-intuitive result from the literature of Industrial
Organization saying that merging firms typically experience a decline in their overall profit …

This paper analyzes mergers involving several leaders and followers in Stackelberg models,
with the merged entity acting as a leader. Adding a follower to a merger increases its …

In this thesis, we develop a simple model to explore the likelihood of a profitable acquisition
in a standard oligopolistic market framework. We show that without costs synergy any …

I set up an endogenous merger model in which, whenever fi rms agree to join in a coalition,
the new entity acquires the leadership in a symmetric Cournot oligopoly. I first explore the …