| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP5079 |
| DP5079 The Worldwide Economic Impact of the Revolutionary and Napoleonic Wars | |
| Kevin O'Rourke | |
| 发表日期 | 2005-05-23 |
| 出版年 | 2005 |
| 语种 | 英语 |
| 摘要 | This paper tests the insiders? dilemma hypothesis in a laboratory experiment. The insiders? dilemma means that a profitable merger does not occur, because it is even more profitable for each firm to unilaterally stand as an outsider (Stigler, 1950; Kamien and Zang, 1990 and 1993). The experimental data provides support for the insiders? dilemma, and thereby for endogenous rather than exogenous merger theory. More surprisingly, our data suggests that fairness (or relative performance) considerations also make profitable mergers difficult. Mergers that should occur in equilibrium do not, since they require an unequal split of surplus. |
| 主题 | Industrial Organization |
| 关键词 | Insiders' dilemma Coalition formation Experiment Antitrust Mergers |
| URL | https://cepr.org/publications/dp5079 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/533971 |
| 推荐引用方式 GB/T 7714 | Kevin O'Rourke. DP5079 The Worldwide Economic Impact of the Revolutionary and Napoleonic Wars. 2005. |
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