Competition policy in multimarket industries:
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Abschlussarbeit Buch |
| Sprache: | English |
| Veröffentlicht: |
2002
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| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | VI, 178 S. graph. Darst. |
Internformat
MARC
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| 245 | 1 | 0 | |a Competition policy in multimarket industries |c von Rainer Nitsche |
| 264 | 1 | |c 2002 | |
| 300 | |a VI, 178 S. |b graph. Darst. | ||
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| 502 | |a Berlin, Humboldt-Univ., Diss., 2002 | ||
| 650 | 7 | |a Hochschulschrift |2 gtt | |
| 650 | 7 | |a Marktpolitik |2 gtt | |
| 650 | 7 | |a Multinationales Unternehmen |2 gtt | |
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Datensatz im Suchindex
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| adam_text | Contents
! Univ. u. .ViKftbibl.]
( Win j
1 Introduction 1 ,^ 1
2 Liberalisation of the Local Bus Industry in Great Britain 8
2.1 Introduction 8
2.2 Liberalisation, conduct, and performance 9
2.2.1 Opening of the market 9
2.2.2 Organisational change 10
2.2.3 Conduct and performance 11
2.3 Contestable markets, the pro arguments . 16
2.3.1 Free entry and exit? 17
2.3.2 Economies of scale and scope? 18
2.3.3 Response lags? 20
2.4 Excessive entry, the con arguments 23
2.5 Conclusion 25
3 Incentives to Grow: Multimarket Firms and Predation 27
3.1 Introduction 27
3.2 The reputation model 29
3.2.1 The game with complete information 30
3.2.2 The game with incomplete information 31
3.2.3 Requirements for reputation to evolve 31
3.2.4 Standard results 32
3.2.5 A new timing of the game 34
3.3 Equilibrium entry decisions 36
3.3.1 The externality effect 36
3.3.2 Singlemarket firms challenge a multimarket firm 38
3.3.3 A multimarket firm challenges a singlemarket firm .... 42
3.3.4 A multimarket firm challenges another multimarket firm 46
3.4 Multimarket firms and imperfect capital markets 49
i
I CONTENTS ii
3.4.1 A reduced form mm entry game 50
3.4.2 Extensive form mm entry games 53
3.5 Results and stylised facts 54
3.6 Conclusion 56
4 Takeover Bids in a Merger Race 62
4.1 Introduction 62
4.2 Related literature 63
4.3 A model of merger races 65
4.4 Bidding strategies 66
4.4.1 The value of a successful acquisition 68
4.4.2 Targeting 70
4.4.3 Results for two large firms 73
4.4.4 Results for three large firms 75
4.5 Industry study 77
4.6 Conclusion 80
5 Incremental Mergers and Competition Policy in Multimarket
Industries 85
5.1 Introduction 85
5.2 A model of merger races 87
5.2.1 The entry game 88
5.2.2 Bidding technology (merger negotiations) 90
5.2.3 Racing for size 91
5.3 Impact of merger control 98
5.4 Implications for competition policy 99
5.5 Conclusion 101
6 On the Effectiveness of Anti Predation Rules 109
6.1 Introduction 109
6.2 The market model 112
6.3 Predation 117
6.4 The rules 119
6.5 Applications 122
6.5.1 Small entrant challenges large incumbent 122
6.5.2 Large entrant challenges small incumbent 129
6.6 Evaluation 133
6.7 Alternative entry scenarios 139
6.7.1 Small scale entry 139
6.7.2 Entry at equal times 140
CONTENTS iii
6.8 Avoiding ex post investigations 141
6.9 Conclusions 144
6.10 Appendices 146
6.10.1 Deriving Demand 146
6.10.2 Sequential move best responses 146
6.10.3 Unconstrained monopolist 150
6.10.4 Limit pricing (fixed prices) 152
6.10.5 Accommodation if proliferation is unprofitable 153
6.10.6 Proof of Lemma Entry Deterrence BRR 154
6.10.7 Competitive market structure 156
6.10.8 Profitability of proliferation 159
7 Conclusions 161
Literature 167
List of Tables
Table 2.1: Trends since deregulation 14
Table 3.1: Results for mm firms with a strong righting incentive ... 57
Table 6.1: Post entry payoffs in period t € {1, ...,T} 117
Table 6.2: Results 134
iv
List of Figures
2.1 Four firm concentration ratio 1989 2000 12
2.2 Bus industry ownership in October 1999 13
2.3 Pre tax profit margin 1989/90 99/00 15
3.1 Standard market games (normal types) 30
3.2 An example for actual play in equilibrium 34
3.3 The mm entry game, first round 43
3.4 Market games (normal types) 44
3.5 The mm entry game with two mm firms 47
3.6 An incomplete capital markets game 51
4.1 Equilibrium takover bids, (s, 2), s0 = 10 73
4.2 6(s,3), 6(5,2), for s0 10 76
4.3 Deals per year since liberalisation 78
4.4 Turnover multiples paid since liberalisation 79
5.1 Firm i s expected payoff 93
5.2 Payoffs and market evolution: an example 94
5.3 Equilibrium takover bids, (s,s 1,^2), 5o = 10, Sc it = 5 95
5.4 Probability of competitive bidding 97
6.1 Full scale midway entry 113
6.2 Best response functions 115
6.3 High price entry 125
v
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| author | Nitsche, Rainer 1966- |
| author_GND | (DE-588)124147259 |
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| author_role | aut |
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| building | Verbundindex |
| bvnumber | BV014440075 |
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| discipline | Wirtschaftswissenschaften |
| format | Thesis Book |
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| indexdate | 2024-07-09T19:02:46Z |
| institution | BVB |
| language | English |
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| spelling | Nitsche, Rainer 1966- Verfasser (DE-588)124147259 aut Competition policy in multimarket industries von Rainer Nitsche 2002 VI, 178 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Berlin, Humboldt-Univ., Diss., 2002 Hochschulschrift gtt Marktpolitik gtt Multinationales Unternehmen gtt Wettbewerbspolitik gtt Funktionsfähiger Wettbewerb (DE-588)4192823-4 gnd rswk-swf Wettbewerbspolitik (DE-588)4065839-9 gnd rswk-swf Verkehrsmarkt (DE-588)4192113-6 gnd rswk-swf (DE-588)4113937-9 Hochschulschrift gnd-content Verkehrsmarkt (DE-588)4192113-6 s Funktionsfähiger Wettbewerb (DE-588)4192823-4 s Wettbewerbspolitik (DE-588)4065839-9 s DE-604 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=009869952&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Nitsche, Rainer 1966- Competition policy in multimarket industries Hochschulschrift gtt Marktpolitik gtt Multinationales Unternehmen gtt Wettbewerbspolitik gtt Funktionsfähiger Wettbewerb (DE-588)4192823-4 gnd Wettbewerbspolitik (DE-588)4065839-9 gnd Verkehrsmarkt (DE-588)4192113-6 gnd |
| subject_GND | (DE-588)4192823-4 (DE-588)4065839-9 (DE-588)4192113-6 (DE-588)4113937-9 |
| title | Competition policy in multimarket industries |
| title_auth | Competition policy in multimarket industries |
| title_exact_search | Competition policy in multimarket industries |
| title_full | Competition policy in multimarket industries von Rainer Nitsche |
| title_fullStr | Competition policy in multimarket industries von Rainer Nitsche |
| title_full_unstemmed | Competition policy in multimarket industries von Rainer Nitsche |
| title_short | Competition policy in multimarket industries |
| title_sort | competition policy in multimarket industries |
| topic | Hochschulschrift gtt Marktpolitik gtt Multinationales Unternehmen gtt Wettbewerbspolitik gtt Funktionsfähiger Wettbewerb (DE-588)4192823-4 gnd Wettbewerbspolitik (DE-588)4065839-9 gnd Verkehrsmarkt (DE-588)4192113-6 gnd |
| topic_facet | Hochschulschrift Marktpolitik Multinationales Unternehmen Wettbewerbspolitik Funktionsfähiger Wettbewerb Verkehrsmarkt |
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