The Price Effects of a Large Merger of Manufacturers: A Case Study of Maytag-Whirlpool
研究惠而浦收购美泰克后家电价格变化，发现洗碗机和干衣机价格上涨，但冰箱和洗衣机无显著价格效应，且合并后市场份额下降、产品种类减少。
Many experts speculate that US antitrust policy towards horizontal mergers has been too lenient. We estimate the price effects of Whirlpool's acquisition of Maytag to provide new evidence on this debate. We compare price changes in appliance markets most affected by the merger to markets where concentration changed much less or not at all. We estimate price increases for dishwashers and relatively large price increases for clothes dryers, but no price effects for refrigerators or clothes washers. The combined firm's market share fell across all four affected categories, and the number of distinct appliance products offered for sale fell.