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Merger Policy and Efficiency Gains

Keywords: efficiency gains, merger policy, structural remedies.

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Abstract:

this paper provides a discussion on mergers and the role played by efficiency gains. by introducing a capacity-constrained cournot model, we show that one way to extract useful information from merging firms is to design a scheme (requiring that the firms divest some of their assets) that leads to self-selection of the more socially worthwhile mergers.

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