The Effect of Ownership Structure on Prices in Geographically Differentiated Industries
分析所有权结构和市场地理如何共同影响快餐价格，通过估计供需模型和反事实实验，发现合并对价格的影响很大，且随距离增加而减小，市场领导者的合并比弱者的合并更易推高价格。
I analyze how ownership structure and market geography jointly influence fast food prices. I estimate a model of demand and supply that accounts for the market geography and run counterfactual experiments that demonstrate how mergers affect prices. I find that the impact of mergers can be large, that this impact decreases as the merging outlets are farther apart, that mergers among market leaders generally increase prices more than mergers among weaker firms, and that mergers can increase prices even if the outlets are so far apart that neither outletï¿•s presence affects prices at the other before the merger.