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SUMMARY:AN AGGREGATIVE GAMES APPROACH TO MERGER ANALYSIS IN MULTIPRODUCT F
 IRM OLIGOPOLY - Nicolas Schutz\, Professor of Economics\, University of Ma
 nnheim
DTSTART:20200205T123000Z
DTEND:20200205T133000Z
UID:TALK138385@talks.cam.ac.uk
CONTACT:Emily Brown
DESCRIPTION:Using an aggregative games approach\, we analyse horizontal me
 rgers in a model of multiproduct firm price competition with nested CES or
  nested logit demands. We show that the Herfindahl index provides an adequ
 ate measure of the oligopoly distortions to consumer surplus and aggregate
  surplus\, and that the induced change in the naively computed Herfindahl 
 index is a good approximation for the market power effect of a merger. We 
 also provide conditions under which a merger raises consumer surplus\, and
  conditions under which a myopic\, consumer surplus based merger approval 
 policy is dynamically optimal. Finally\, we study the aggregate surplus an
 d external effects of a merger.
LOCATION:Lecture Theatre 1\, Cambridge Judge Business School
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