The Price Effects of a Large Merger of Manufacturers: A Case Study of Maytag-Whirlpool

被引：63

作者：

Ashenfelter, Orley C. ^{[1
,2
]}

Hosken, Daniel S. ^{[3
]}

Weinberg, Matthew C. ^{[4
]}

机构：

[1] Princeton Univ, Ind Relat Sect, Princeton, NJ 08544 USA

[2] Natl Bur Econ Res, Cambridge, MA 02138 USA

[3] US Fed Trade Commiss, Washington, DC 20580 USA

[4] Drexel Univ, Dept Econ, Philadelphia, PA 19104 USA

来源：

AMERICAN ECONOMIC JOURNAL-ECONOMIC POLICY | 2013年 / 5卷 / 01期

关键词：

RETAIL GASOLINE MARKETS; VERTICAL RELATIONSHIPS; EMPIRICAL-EVIDENCE; CONTRACT CHANGES; CONSUMER PRICES; COMPETITION; PETROLEUM; POWER; FORM;

D O I：

10.1257/pol.5.1.239

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Many experts speculate that US antitrust policy towards horizontal mergers has been too lenient. We estimate the price effects of Whirlpool's acquisition of Maytag to provide new evidence on this debate. We compare price changes in appliance markets most affected by the merger to markets where concentration changed much less or not at all. We estimate price increases for dishwashers and relatively large price increases for clothes dryers, but no price effects for refrigerators or clothes washers. The combined firm's market share fell across all four affected categories, and the number of distinct appliance products offered for sale fell. (JEL G34, K21, L11, L41, L68)

引用

页码：239 / 261

页数：23

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