Chips in on a merger: The Arm-Nvidia case
从产业组织视角分析英伟达与Arm的垂直合并，探讨市场封锁、技术获取和排他行为等竞争问题，提出四种竞争效应理论，对研究半导体和高科技市场竞争的学者有参考价值。
This paper analyzes the Nvidia-Arm vertical merger through the lens of the recent literature in Industrial Organization. It explores potential competitive concerns surrounding market foreclosure, technological access, and exclusionary behavior, considering the dynamic semiconductor industry's intricacies. Although limited public information is available due to the parties halting the merger during phase two, I propose four theories of competitive effects addressing issues such as vertical foreclosure in dynamic markets, stifling of innovation due to hold-up concerns, and the ecosystem effects of the merger. This discussion sheds light on the potential impact of this merger in the semiconductor industry on competition in innovative high tech markets such as CPUs, datacenters, gaming consoles, and assisted driving.