scholarly journals The Competitive Impact of Vertical Integration by Multiproduct Firms

2020 ◽  
Vol 110 (7) ◽  
pp. 2041-2064 ◽  
Author(s):  
Fernando Luco ◽  
Guillermo Marshall
Keyword(s):  
Vertical Integration ◽  
Price Increases ◽  
Beverage Industry ◽  
The Us ◽  
Carbonated Beverage ◽  
Vertical Mergers ◽  
Recent Variation ◽  
The Impact ◽  
New Evidence ◽  
Do So

We study the impact of vertical integration on pricing incentives in multiproduct industries. To do so, we exploit recent variation in vertical structure in the US carbonated-beverage industry. While the elimination of double marginalization with vertical integration is normally characterized as procompetitive, economic theory predicts that it may cause anticompetitive price increases in multiproduct industries. We indeed find that vertical integration causes price decreases in products with eliminated double margins but price increases in the other products sold by the integrated firm. These results provide new evidence of anticompetitive effects of vertical mergers. (JEL D22, D43, G34, L13, L22, L66)

10. Mergers and acquisitions

2021 ◽  
pp. 106-117
Author(s):  
Ariel Ezrachi
Keyword(s):  
Mergers And Acquisitions ◽  
Market Structure ◽  
Market Power ◽  
Joint Ventures ◽  
Potential Benefit ◽  
Horizontal Mergers ◽  
Administrative System ◽  
The Us ◽  
Vertical Mergers ◽  
The Impact

‘Mergers and acquisitions’ discusses mergers and acquisitions. While of potential benefit to society, mergers, takeovers, share acquisitions, and joint ventures also affect the market structure, and at times may reduce competition. When markets become more concentrated following a merger, we move further away from a competitive market structure to a structure in which market power might undermine the competitive process. To address this risk, the competition agency must assess the impact of the transaction. There are important procedural differences between the European administrative system and the US system in terms of the appraisal of mergers and acquisitions. Other types of mergers include: horizontal mergers, vertical mergers, and conglomerate transactions.

scholarly journals Do Vertical Mergers Facilitate Upstream Collusion?

2007 ◽  
Vol 97 (4) ◽  
pp. 1321-1339 ◽  
Author(s):  
Volker Nocke ◽  
Lucy White
Keyword(s):  
Vertical Integration ◽  
Repeated Game ◽  
Punishment Phase ◽  
Vertical Mergers ◽  
The Impact

We investigate the impact of vertical mergers on upstream firms' ability to collude when selling to downstream firms in a repeated game. We show that vertical mergers give rise to an outlets effect: the deviation profits of cheating unintegrated firms are reduced as these firms can no longer profitably sell to the downstream affiliates of their integrated rivals. Vertical mergers also result in an opposing punishment effect: integrated firms typically make more profit in the punishment phase than unintegrated upstream firms. The net result of these effects in an unintegrated industry is to facilitate upstream collusion. We provide conditions under which further vertical integration also facilitates collusion. (JEL D43, G34, L12, L13)

scholarly journals The impact of CLIL on the acquisition of L2 competences and skills in primary education

2016 ◽  
Vol 16 (2) ◽  
pp. 81 ◽  
Author(s):  
Esther Nieto Moreno de Diezmas
Keyword(s):  
Foreign Language ◽  
Primary Education ◽  
English Language ◽  
Communicative Competence ◽  
Selection Process ◽  
Traditional Learning ◽  
School Settings ◽  
The Impact ◽  
New Evidence ◽  
Do So

<p>The aim of this paper is to provide new evidence on the effectiveness of Content and Language Integrated Learning (CLIL) in the acquisition of English language competences (reading, writing, listening and spoken production and interaction) compared to traditional learning of English as a foreign language (EFL) in primary school settings. To do so, results of CLIL and non-CLIL learners enrolled in the 4 th year of primary education (9-10-year-olds) were examined and contrasted. Findings showed that the only communicative competence in which differences in favour of CLIL students were significant was spoken production and interaction. However, significant differences have also been detected in the following indicators: “preparing an outline before writing” (writing), “understanding space-time relations” (reading), and “global comprehension” and “identification of details” (listening). The confined effectiveness of CLIL may be due to the limited time of extra exposure to English, the young age of participants and the absence of any selection process for CLIL learners.</p>

scholarly journals Vertical Integration and Exclusivity in Platform and Two-Sided Markets

2013 ◽  
Vol 103 (7) ◽  
pp. 2960-3000 ◽  
Author(s):  
Robin S Lee
Keyword(s):  
Vertical Integration ◽  
Video Game ◽  
Consumer Welfare ◽  
Market Outcomes ◽  
Software Products ◽  
Sixth Generation ◽  
The Us ◽  
Game Industry ◽  
Hardware Platforms ◽  
The Impact

This paper measures the impact of vertically integrated and exclusive software on industry structure and welfare in the sixth-generation of the US video game industry (2000–2005). I specify and estimate a dynamic model of both consumer demand for hardware and software products, and software demand for hardware platforms. I use estimates to simulate market outcomes had platforms been unable to own or contract exclusively with software. Driven by increased software compatibility, hardware and software sales would have increased by 7 percent and 58 percent and consumer welfare by $1.5 billion. Gains would be realized only by the incumbent, suggesting exclusivity favored the entrant platforms. (JEL D12, L13, L22, L63, L86)

scholarly journals MASK MANDATES REDUCE COVID-19 MORTALITY: Analysis of 37 States and the District of Columbia, with a further analysis of the impact of demographic and medical factors on efficacy.

2021 ◽  
Author(s):  
Michael J Maloney
Keyword(s):  
Full Range ◽  
District Of Columbia ◽  
Incarceration Rate ◽  
The Social ◽  
The Us ◽  
To Come ◽  
The Impact ◽  
Native Alaskan ◽  
Optimal Discriminant Analysis ◽  
Do So

As the number of COVID-19 deaths in the US increased, various policies were enacted to slow the spread of the pandemic. While the situation has improved in recent months, determining how best to combat the current pandemic is still essential. Failure to do so invites both further resurgences of the current pandemic, and more pandemics in the years to come. As a result of the widespread failure to contain the spread of COVID-19, enough deaths have occurred that the impact of policy on mortality may be statistically evaluated. This paper uses Optimal Discriminant Analysis (ODA) to evaluate the hypothesized ability of limited mask mandates (MM) to reduce the daily number of COVID-19 deaths in the states analyzed. The mandates were found to reduce mortality in half the states analyzed and did not result in increased mortality in any states. A full range of cofactors were analyzed to determine which, if any, influenced the efficacy of the mandates in the states in which mandates had an effect. Institutional Health Subindex of the Social Capital Index, state health score, population density, portion of the population with nongroup health insurance, state GDP, and the rate of pregnancy related diabetes were all correlated with increased mandate efficacy. In contrast, incarceration rate, overcrowded housing, severely overcrowded housing, portion of the population with military provided insurance, portion of the population uninsured, the portion of the population unable to see a doctor due to cost, and the portion of the population who were American Indian/Native Alaskan were all correlated with reduced mandate efficacy.

scholarly journals Do Strikes Kill? Evidence from New York State

2012 ◽  
Vol 4 (1) ◽  
pp. 127-157 ◽  
Author(s):  
Jonathan Gruber ◽  
Samuel A Kleiner
Keyword(s):  
New York ◽  
New York State ◽  
York State ◽  
Patient Demographics ◽  
Us Economy ◽  
Quality Of Patient Care ◽  
The Us ◽  
The Impact ◽  
Do So

Hospitals now represent one of the largest union sectors of the US economy, and there is particular concern about the impact of strikes on patient welfare. We analyze the effects of nurses' strikes in hospitals on patient outcomes in New York State. Controlling for hospital specific heterogeneity, the results show that nurses' strikes increase in-hospital mortality by 18.3 percent and 30-day readmission by 5.7 percent for patients admitted during a strike, with little change in patient demographics, disease severity or treatment intensity. The results suggest that hospitals functioning during nurses' strikes do so at a lower quality of patient care. (JEL H75, I11, I12, J52)

scholarly journals Bikeway Provision and Bicycle Commuting: City-Level Empirical Findings from the US

2021 ◽  
Vol 13 (6) ◽  
pp. 3113
Author(s):  
Qiyao Yang ◽  
Jun Cai ◽  
Tao Feng ◽  
Zhengying Liu ◽  
Harry Timmermans
Keyword(s):  
Regression Models ◽  
Urban Transport ◽  
Collective Effects ◽  
Policy Makers ◽  
Bicycle Commuting ◽  
The Us ◽  
The Impact ◽  
New Evidence ◽  
Us Cities ◽  
Aid Policy

The growing worldwide awareness of the significant benefits of bicycling as an urban transport mode has aroused great interest in exploring the role that bikeways play in promoting utilitarian bicycling. However, few studies assess the contribution of citywide bikeway provision with the inclusion of all facility types and differentiation of facility utilities. This study provides new evidence by evaluating the collective effects of bikeway kilometers per square kilometer, bikeway kilometers per 10,000 population, and low-stress bikeway proportion on the bicycle-commuting share in 28 US cities between 2005 and 2017. Using linear panel regression models, we found that the expansion of citywide bikeway infrastructure positively influences the share of commute trips by bicycle. The results also indicated that the proportion of low-stress bikeways has a stronger impact on the bicycling-to-work share than bikeway kilometers per 10,000 population, while the impact of bikeway kilometers per square kilometer ranks last. These findings may aid policy makers and planners in formulating sound city-level bikeway policies favoring sustainable urban transportation scenarios.

scholarly journals The response of corporate investments in the US to oil price changes: the role of asymmetries

2020 ◽  
Vol 9 ◽  
pp. 11-24
Author(s):  
Aktham I. Maghyereh ◽  
Basel Awartani
Keyword(s):  
Investment Decisions ◽  
Oil Price ◽  
Corporate Investments ◽  
Price Changes ◽  
Price Increases ◽  
The Us ◽  
Capital Spending ◽  
The Impact

This paper investigates the influence of oil on corporate investments in the US. The inference is taken from a large sample which contains data on 15,411 companies over the period that extended from 1984 to 2017. It adds to the literature by showing that non-oil corporate investments in the US respond asymmetrically to oil price changes. In particular, when the oil price increases, the capital spending of companies suffers by more than it benefits from the declines in the price of oil. These results are important in assessing the impact of energy price fluctuations on the long-term investment decisions of US companies.   

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