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Losses from Horizontal Merger: The Effects of an Exogenous Change in Industry Structure on Cournot-Nash Equilibrium
Abstract
The consequences of a horizontal merger are typically studied by treating the merger as an exogenous change in market structure that displaces the initial Cournot equilibrium. In the new equilibrium the merged firm is assumed to behave like a multiplant Cournot player engaged in a noncooperative game against other sellers. The purpose of this article is to evaluate an unnoticed comparative-static implication of this approach: some exogenous mergers may reduce the endogenous joint profits of the firms that are assumed to collude. Cournot's original example is used to illustrate this and other bizarre results that can occur in the Cournot framework if the market structure is treated as exogenous.
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Citations
Cited by
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Spillovers and innovative activities
De Bondt, R. (1997) · International Journal of Industrial Organization · doi:10.1016/s0167-7187(96)01023-5 · Cited by 438
A Game-Theoretic Perspective on Coalition Formation
Ray, D. (2007) · doi:10.1093/acprof:oso/9780199207954.001.0001 · Cited by 379
Domestic rivalry and export performance: Theory and evidence from international airline markets
Clougherty, J. A., & Zhang, A. (2009) · Canadian Journal of Economics/Revue canadienne d'économique · doi:10.1111/j.1540-5982.2009.01515.x · Cited by 81
Metadata
- Authors
- Salant, S. W., Switzer, S., & Reynolds, R. J.
- Venue
- The Quarterly Journal of Economics
- Publisher
- Oxford University Press (OUP)
- Published
- 1983-05
- Volume
- 98
- Issue
- 2
- Pages
- 185
- ISSN
- 0033-5533 (ISSN-L)
- OpenAlex
- W2087308246
- Cited by
- 1,331
- References
- 0
- FWCI
- 13.64
- Type
- journal article
- Language
- en
- Open access
- closed
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- CoChat. (2026). Citation check: Losses from Horizontal Merger: The Effects of an Exogenous Change in Industry Structure on Cournot-Nash Equilibrium. https://app.cochat.ai/papers/10.2307/1885620
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- Salant, S. W., Switzer, S., & Reynolds, R. J. (1983). Losses from Horizontal Merger: The Effects of an Exogenous Change in Industry Structure on Cournot-Nash Equilibrium. The Quarterly Journal of Economics. https://doi.org/10.2307/1885620
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