Merger to Monopoly to Serve a Single Buyer: Comment
نویسندگان
چکیده
The essential building block for Campbell’s policy recommendation is his assertion that bilateral bargaining between a single seller and a single buyer—as would occur after a merger to monopoly among the sellers that serve that buyer—induces efficient trade. He states: “The overall payment for all the goods will be subject to bargaining between the two parties, but the quantity sold is not in doubt. It is equal to the same quantity that would be arrived at in perfect competition.”2 In Part I, we examine this argument critically and explain why bilateral monopoly is not reliably efficient.
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تاریخ انتشار 2008