Horizontal Mergers and Antitrust Policy
基于Perry和Porter的Cournot-Nash模型，研究横向合并对福利的影响，发现非合并企业所有权越集中，合并越可能提升福利；但若合并创造或扩大最大企业，则会降低福利。
The welfare implications of horizontal mergers are examined in the context of the Cournot-Nash model of M. Perry and R. Porter (1985). Horizontal mergers are more likely to be welfare enhancing the more concentrated is the ownership of the nonmerging firms. Mergers that create a new largest firm, or increase the size of the largest firm, reduce welfare. Copyright 1992 by Blackwell Publishing Ltd.