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Record W271939296 · doi:10.20381/ruor-25504

Multi-Firm Mergers with Leaders and Followers

2015· article· en· W271939296 on OpenAlexaff
Gamal Atallah

Bibliographic record

VenueuO Research (University of Ottawa) · 2015
Typearticle
Languageen
FieldEconomics, Econometrics and Finance
TopicMerger and Competition Analysis
Canadian institutionsUniversity of Ottawa
Fundersnot available
KeywordsStackelberg competitionProfitability indexBusinessMicroeconomicsWelfareIndustrial organizationEconomicsFinanceMarket economy

Abstract

fetched live from OpenAlex

This paper analyzes mergers involving several leaders and followers in Stackelberg models, with the merged entity acting as a leader. Adding a follower to a merger increases its profitability or reduces its losses. A merger between one leader and any number of followers is always profitable. When a merger involves two leaders, it requires a sufficiently large proportion of followers to participate in it to be profitable. A merger is less likely to be profitable when the number of participating leaders is intermediate and the number of participating followers is small. All mergers involving leaders and followers are welfare reducing. Overall, Stackelberg leadership partially alleviates the merger paradox. / Ce papier analyse les fusions impliquant plusieurs meneurs et suiveurs dans les modèles de Stackelberg, où la firme fusionnée agit comme un meneur. Ajouter un suiveur à une fusion augmente sa profitabilité ou réduit ses pertes. Toute fusion entre un meneur et n’importe quel nombre de suiveurs est profitable. Lorsque deux meneurs participent à une fusion, il faut qu’un nombre suffisant de suiveurs s’y joignent pour qu’elle soit profitable. Une fusion a moins de chances d’être profitable lorsque le nombre de meneurs qui y participent est intermédiaire et le nombre de suiveurs est petit. Toutes les fusions impliquant des meneurs et des suiveurs réduisent le bien-être. En général, le leadership de Stackelberg allège en partie le paradoxe des fusions.

Fetched live from OpenAlex and de-inverted. Abstracts are not stored in this database: the inverted indexes are 8.6 GB of the frame’s 9.3 GB of text, and the host has 13 GB free.

How this classification was reachedexpand

Full frame distilled prediction

Teacher imitation

Not calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.

metaresearch head score (Codex)0.001
metaresearch head score (Gemma)0.000
Version: codex-gemma-dda1882f352aValidation status: machine_predicted_unvalidated
Candidate categoriesnone
Consensus categoriesnone
DomainCandidate signal: none · Consensus signal: none
Study designCandidate signal: Observational · Consensus signal: none
GenreCandidate signal: Empirical · Consensus signal: Empirical
Teacher disagreement score0.686
Threshold uncertainty score0.700

Codex and Gemma teacher scores by category

CategoryCodexGemma
Metaresearch0.0010.000
Meta-epidemiology (narrow)0.0000.000
Meta-epidemiology (broad)0.0000.000
Bibliometrics0.0010.001
Science and technology studies0.0000.000
Scholarly communication0.0000.000
Open science0.0000.000
Research integrity0.0000.000
Insufficient payload (model declined to judge)0.0010.000

Machine scores (provisional)

The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.

Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.

Opus teacher head0.167
GPT teacher head0.286
Teacher spread0.119 · how far apart the two teachers sit on this one work
Validation statusscore_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from it

Classification

machine, unvalidated

Machine predicted; a candidate call from one teacher head, not a consensus.

The models applied no category: nothing in the taxonomy fit this work.
Study designObservational
Domainnot available
GenreEmpirical

How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".

Quick stats

Citations0
Published2015
Admission routes1
Has abstractyes

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