@article{oai:niigata-u.repo.nii.ac.jp:00027252,
 author = {Hamada, Kojun},
 journal = {新潟大学経済論集, 新潟大学経済論集},
 month = {Mar},
 note = {In this paper, we attempt to examine whether or not mergers are profitable in a hierarchical Stackelberg model under quantity competition. Under general demand function, a significant result cannot be obtained with regard to whether or not mergers are profitable. Instead, we show that mergers are always profitable, regardless of any curvature of demand under a specified demand structure. This result supports the intuition that mergers are always profitable in a hierarchical Stackelberg model.},
 pages = {1--18},
 title = {A Note on Profitable Mergers in a Hierarchical Stackelberg Model},
 volume = {86},
 year = {2009}
}