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D’Annunzio, Anna, Lefouili, Yassine
, Jullien, Bruno and Madio, Leonardo
(2026)
Mergers and Investments in New Products.
International Journal of Industrial Organization, vol. 108.
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Abstract
This paper examines how horizontal mergers affect firms’ incentives to invest in R&D leading to the development of new products. We characterize the impact of a merger to monopoly and a 3-to-2 merger on equilibrium innovation efforts and consumer surplus, absent efficiency gains and spillovers. We show that a 3-to-2 merger directly alters the outsider’s innovation incentives by shifting its best-response function upward, and we analyze how this mechanism affects merger outcomes for innovation and consumer surplus. Finally, we examine how efficiency gains and remedies modify post-merger innovation efforts.
| Item Type: | Article |
|---|---|
| Language: | English |
| Date: | October 2026 |
| Refereed: | Yes |
| Place of Publication: | Amsterdam |
| Uncontrolled Keywords: | Horizontal Mergers, Product Innovation, R&D Investments |
| JEL Classification: | K21 - Antitrust Law L13 - Oligopoly and Other Imperfect Markets L40 - General |
| Subjects: | B- ECONOMIE ET FINANCE |
| Divisions: | TSE-R (Toulouse) |
| Site: | UT1 |
| Date Deposited: | 06 Jul 2026 07:52 |
| Last Modified: | 23 Sep 2026 11:46 |
| OAI Identifier: | oai:tse-fr.eu:131953 |
| URI: | https://publications.ut-capitole.fr/id/eprint/53812 |
Available Versions of this Item
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Mergers and investments in new products. (deposited 07 Sep 2018 09:13)
- Mergers and Investments in New Products. (deposited 06 Jul 2026 07:52) [Currently Displayed]
