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Capacity Constraints and Horizontal Merger Effects

机译:容量约束和横向合并效应

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This article examines how capacity constraints affect horizontal mergers. Binding capacity constraints for merging firms may mitigate merger price effects, but capacity constraints for nonmerging firms may either amplify or mitigate such effects. The presence of capacity constraints for both the merging and nonmerging firms in a market further complicates the analysis of merger price effects. Capacity constraints may also confound the relationship between market concentration and merger price effects. In addition, capacity constraints affect market definition analysis and analytical tools such as merger simulation and upward pricing pressure indexes. Analyzing the effects of capacity constraints on mergers continues to be a challenge for merger reviews.
机译:本文研究了能力约束如何影响横向合并。对合并公司具有约束力的约束可能会减轻合并价格的影响,但对非合并公司的约束可能会放大或减轻这种影响。市场中同时存在的合并和非合并公司的能力约束都使合并价格效应的分析变得更加复杂。能力约束可能还会混淆市场集中度和合并价格效应之间的关系。此外,产能限制还会影响市场定义分析和分析工具,例如合并模拟和向上定价压力指数。分析能力限制对合并的影响仍然是合并审查的挑战。

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