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Simulated horizontal mergers in vertically related markets
Thesis (MCom)--Stellenbosch University, 2022.
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| Format: | Thesis |
| Language: | en_ZA |
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Stellenbosch : Stellenbosch University
2022
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| _version_ | 1867614016500662272 |
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| access_status_str | Open Access |
| author | Marais, Wihan |
| author2 | Boshoff, Willem |
| author_browse | Boshoff, Willem Marais, Wihan |
| author_facet | Boshoff, Willem Marais, Wihan |
| author_sort | Marais, Wihan |
| collection | Thesis |
| dc_rights_str_mv | Stellenbosch University |
| description | Thesis (MCom)--Stellenbosch University, 2022. |
| format | Thesis |
| id | oai:scholar.sun.ac.za:10019.1/124624 |
| institution | Stellenbosch University (South Africa) |
| language | en_ZA |
| last_indexed | 2026-06-10T12:45:20.375Z |
| license_str | Other — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from SUNScholar — Stellenbosch University Repository |
| publishDate | 2022 |
| publishDateRange | 2022 |
| publishDateSort | 2022 |
| publisher | Stellenbosch : Stellenbosch University |
| publisherStr | Stellenbosch : Stellenbosch University |
| record_format | dspace |
| source_str | SUNScholar — Stellenbosch University Repository |
| spelling | oai:scholar.sun.ac.za:10019.1/124624 Simulated horizontal mergers in vertically related markets Marais, Wihan Boshoff, Willem Stellenbosch University. Faculty of Economic and Management Sciences. Dept. of Economics. Industrial organisation -- South Africa Incentive scoring -- South Africa Vertical merger screening -- South Africa Economics -- South Africa Competition economics -- South Africa Mergers, bargaining competition -- South Africa UCTD Thesis (MCom)--Stellenbosch University, 2022. ENGLISH SUMMARY: A global trend of increasing retail concentration and a heightened concern about buyer power demand more sophisticated and flexible merger screening tools. Parametrisable merger simulation models that suitably account for the effects of bargaining competition may pose a solution. Thus, this dissertation examines the predicted effects o f retail consolidation in a vertically related market using the merger simulation tool developed by Tschantz and Froeb (2019). With the flat logit nested demand function for differentiated products of Boshoff e t a l. (2020), the predicted retail merger effects of five different bargaining and non-bargaining models for a 1 × 2 industry are evaluated. The primary contribution of this study is its unique application of Nashin-Shapley (NiS) bargains in the study of retail consolidation. It is novel in so far it compares the inherent implications of Nash-in-Nash (NiN) and NiS bargains for the appraisal of retail mergers. Pre-merger competitive outcomes with NiN predetermine a finding o f an anticompetitive merger. Contrarily, predictions with NiS as its starting point do not indicate that a merger would cause consumer harm, and therefore, would not be prohibited. In addition, the results suggest that retail consolidation consistently poses a viable option through which retailers can improve their profitability and bargaining positions. However, merger incentives are moderated by the competitiveness of an outside market. AFRIKAANSE OPSOMMING: ’n Globale tendens van toenemende konsentrasie in die kleinhandelsektor en ’n verhoogde kommer oor koopkrag verg noodsaaklikerwys meer gesofistikeerde en aanpasbare samesmelting siftingsmetodes. Parameteriseerbare modelle van gesimuleerde samesmeltings wat op ’n geskikte wyse van die effekte van b edinging e n mededinging rekening hou, mag ’n oplossing bied. Dus, bestudeer hierdie proefskrif die effek van konsolidasie in ’n vertikaal verwante kleinhandelsektor met die gebruik van die samesmelting-simulasiemetode van Tschantz en Froeb (2019). Met die gebruik van die “flat logit nested” vraagfunksie vir gedifferensieerde produkte van Boshoff et al. (2020) word die uitkomste van vyf verskillende bedinging en nie-bedinging modelle vir ’n 1 × 2 industrie evalueer. Die primêre bydra van hierdie studie is sy unieke toepassing van Nash-in-Shapley (NiS) bedinging in die bestudering van konsolidasie in die kleinhandelsektor. Die studie is oorspronklik aangesien hierdie aanwending ’n kritiese vergelyking van die inherente implikasies van Nash-in-Nash (NiN) en NiS bedinging vir die beoordeling van samesmeltings toelaat. Pre-samesmelting NiN-modelle genereer toestande van oordrewe mededinging en sal daarom ’n bevinding van ’n anti-mededingende samesmelting vooraf bepaal. In teenstelling, sal ’n kleinhandel-samesmelting met NiS as sy beginpunt nie skade aan die verbruiker daarstel nie en sal daarom nie verbied word nie. Boonop, suggereer hierdie resultate dat kleinhandel-samesmeltings deurgaans ’n lewensvatbare opsie waardeur kleinhandelaars hul winsgewendheid en bedingingsposisie kan verbeter, bied. Daarbenewens, word die aansporings om saamte smelt deur die mededingendheid van ’n buite-mark gemodereer. Masters 2022-02-22T09:12:46Z 2022-04-29T09:22:54Z 2022-02-22T09:12:46Z 2022-04-29T09:22:54Z 2022-04 Thesis http://hdl.handle.net/10019.1/124624 en_ZA Stellenbosch University viii, 68 pages : illustrations, includes annexures application/pdf Stellenbosch : Stellenbosch University |
| spellingShingle | Industrial organisation -- South Africa Incentive scoring -- South Africa Vertical merger screening -- South Africa Economics -- South Africa Competition economics -- South Africa Mergers, bargaining competition -- South Africa UCTD Marais, Wihan Simulated horizontal mergers in vertically related markets |
| title | Simulated horizontal mergers in vertically related markets |
| title_full | Simulated horizontal mergers in vertically related markets |
| title_fullStr | Simulated horizontal mergers in vertically related markets |
| title_full_unstemmed | Simulated horizontal mergers in vertically related markets |
| title_short | Simulated horizontal mergers in vertically related markets |
| title_sort | simulated horizontal mergers in vertically related markets |
| topic | Industrial organisation -- South Africa Incentive scoring -- South Africa Vertical merger screening -- South Africa Economics -- South Africa Competition economics -- South Africa Mergers, bargaining competition -- South Africa UCTD |
| url | http://hdl.handle.net/10019.1/124624 |
| work_keys_str_mv | AT maraiswihan simulatedhorizontalmergersinverticallyrelatedmarkets |