Numerous merger retrospective studies conducted in the Bureau of Economics have been released as working papers and have been published in academic journals. Below is a list of these studies including the title, author(s), journal, year of publication of the merger retrospective. We have also classified the primary industry(s) studied, the type of merger (horizontal/vertical), and the primary outcome(s) studied (e.g., price, output, or quality), and have provided a link to a downloadable version of each study.
Note: The Federal Trade Commission does not endorse the views expressed in the studies. The FTC takes no responsibility for, and exercises no control over, the accuracy, copyright or trademark compliance, or legality of the material contained in these studies.
Title | Author(s) | Journal | Year | Merger type(s) | Industry | Outcome |
---|---|---|---|---|---|---|
The Price Effects of a Large Merger of Manufacturers: A Case Study of Maytag-Whirlpool | Ashenfelter, Orley C.; Hosken, Daniel S.; Weinberg, Matthew C. | American Economic Journal: Economic Policy | 2013 | Horizontal | Consumer Products | Prices |
Efficiencies Brewed: Pricing and Consolidation in the US Beer Industry | Ashenfelter, Orley C.; Hosken, Daniel S.; Weinberg, Matthew C. | RAND Journal of Economics | 2015 | Horizontal | Consumer Products | Prices |
The Effect of Mergers on Consumer Prices: Evidence from Five Mergers on the Enforcement Margin | Ashenfelter, Orley; Hosken, Daniel | Journal of Law and Economics | 2010 | Horizontal | Consumer Products | Prices |
The Price and Profit Effects of Horizontal Merger: A Case Study | Barton, David M.; Sherman, Roger | Journal of Industrial Economics | 1984 | Horizontal | Other | Prices |
In the Shadow of Antitrust Enforcement: Price Effects of Hospital Mergers from 2009 to 2016 | Brand, Keith, Chris Garmon, and Ted Rosenbaum | Journal of Law and Economics | 2023 | Horizontal | Healthcare | Price |
The Union Pacific/Southern Pacific Rail Merger: A Retrospective on Merger Benefits | Breen, Denis A. | Review of Network Economics | 2004 | Horizontal | Ground Transport | Efficiencies |
The Evolution of the Baby Food Industry, 2000-2008 | Chen, Viola | Journal of Competition Law & Economics | 2010 | Horizontal | Consumer Products | Output, Prices |
How Acquisitions Affect Firm Behavior and Performance: Evidence from the Dialysis Industry | Eliason, Paul J., Benjamin Heebsh, Ryan C. McDevitt, and James W. Roberts | Quarterly Journal of Economics | 2020 | Horizontal | Healthcare | Quality |
Robustness of the Results in GAO’s 2004 Report Concerning Price Effects of Mergers and Concentration Changes in the Petroleum Industry | FTC Staff Technical Report | Federal Trade Commission | 2004 | Horizontal | Petroleum | Prices |
The Accuracy of Hospital Merger Screening Methods | Garmon, Christopher | RAND Journal of Economics | 2017 | Horizontal | Healthcare | Prices |
Hospital Mergers and Antitrust Immunity: The Acquisition of Palmyra Medical Center by Phoebe Putney Health | Garmon, Christopher; Kmitch, Laura | Journal of Competition Law & Economics | 2018 | Horizontal | Healthcare | Prices, Quality |
Simulating a Homogeneous Product Merger: A Case Study on Model Fit and Performance | Greenfield, Daniel; Kreisle, Nicholas M.; Williams, Mark | FTC Bureau of Economics Working Paper | 2015 | Horizontal | Petroleum | Prices |
Hospital Mergers and Competitive Effects: Two Retrospective Analyses | Haas-Wilson, Deborah; Garmon, Christopher | International Journal of the Economics of Business | 2011 | Horizontal | Healthcare | Prices |
Do Retail Mergers Affect Competition? Evidence from Grocery Retailing | Hosken, Daniel S.; Olson, Luke M.; Smith, Loren K. | Journal of Economics & Management Strategy | 2018 | Horizontal | Retailing | Prices |
Does Concentration Matter? Measurement of Petroleum Merger Price Effects | Hosken, Daniel; Silvia, Louis; Taylor, Christopher | American Economic Review | 2011 | Horizontal, Vertical | Petroleum | Prices |
How Vertical Integration Affects the Quantity and Cost of Care for Medicare Beneficiaries | Koch, Thomas G.; Wendling, Brett W.; Wilson, Nathan E. | Journal of Health Economics | 2017 | Vertical | Healthcare | Spending, Costs |
The Effects of Physician and Hospital Integration on Medicare Beneficiaries’ Health Outcomes | Koch, Thomas G.; Wendling, Brett W.; Wilson, Nathan E. | Review of Economics & Statistics | 2021 | Vertical | Healthcare | Quality |
Price Effects of a Merger: Evidence from a Physicians’ Market | Koch, Thomas; Ulrick, Shawn W. | Economic Inquiry | 2021 | Horizontal | Healthcare | Prices |
Merger Policy at the Margin: Western Refining's Acquisition of Giant Industries | Kreisle, Nicholas | Review of Industrial Organization | 2015 | Horizontal | Petroleum | Prices |
Price Effects from the Merger of Agricultural Fertilizer Manufacturers Agrium and PotashCorp | Kreisle, Nicholas | FTC Bureau of Economics Working Paper | 2020 | Horizontal | Other | Prices |
Price Effects from the Merger of Agricultural Fertilizer Manufacturers Agrium and PotashCorp | Kreisle, Nicholas | FTC Bureau of Economics Working Paper | 2020 | Horizontal | Other | Price |
Evaluating Mergers and Divestitures: A Casino Case Study | Osinski, David F.; Sandford, Jeremy A. | Journal of Law, Economics & Organization | 2021 | Horizontal | Other | Output, Prices |
A Retrospective Analysis of the Clinical Quality Effects of the Acquisition of Highland Park Hospital by Evanston Northwestern Healthcare | Romano, Patrick S.; Balan, David J. | International Journal of the Economics of Business | 2011 | Horizontal | Healthcare | Quality |
Case Studies Of The Price Effects Of Horizontal Mergers | Schumann, Laurence; D. Reitzes, James; Rogers, Robert P. | FTC Bureau of Economics Staff Report | 1992 | Horizontal | Other | Prices |
Petroleum Mergers and Competition in the Northeast United States | Silvia, Louis; Taylor, Christopher T. | International Journal of the Economics of Business | 2013 | Horizontal | Petroleum | Prices |
Geographic Markets in Hospital Mergers: A Case Study | Simpson, John | International Journal of the Economics of Business | 2003 | Horizontal | Healthcare | Other |
Do Gasoline Mergers Affect Consumer Prices? The Marathon Ashland Petroleum and Ultramar Diamond Shamrock Transaction | Simpson, John; Taylor, Christopher | Journal of Law and Economics | 2008 | Horizontal | Petroleum | Prices |
The Economic Effects of the Marathon-Ashland Joint Venture: The Importance of Industry Supply Shocks and Vertical Market Structure | Taylor, Christopher T.; Hosken, Daniel S. | Journal of Industrial Economics | 2007 | Horizontal | Petroleum | Prices |
Vertical Relationships and Competition in Retail Gasoline Markets: Empirical Evidence from Contract Changes in Southern California: Comment | Taylor, Christopher T.; Kreisle, Nicholas M.; Zimmerman, Paul R. | American Economic Review | 2010 | Horizontal, Vertical | Petroleum | Prices |
The Price Effects of Hospital Mergers: A Case Study of the Sutter-Summit Transaction | Tenn, Steven | International Journal of the Economics of Business | 2011 | Horizontal | Healthcare | Prices |
The Success of Divestitures in Merger Enforcement: Evidence from the J&J-Pfizer Transaction | Tenn, Steven; Yun, John M. | International Journal of Industrial Organization | 2011 | Horizontal | Consumer Products | Distribution, Prices, Quality |
The Effect of Hospital Mergers on Inpatient Prices: A Case Study of the New Hanover-Cape Fear Transaction | Thompson, Aileen | International Journal of the Economics of Business | 2011 | Horizontal | Healthcare | Prices |
The Competitive Effects of Not-for-Profit Hospital Mergers: A Case Study | Vita, Michael G.; Sacher, Seth | Journal of Industrial Economics | 2001 | Horizontal | Healthcare | Prices |
Evidence on the Accuracy of Merger Simulations | Weinberg, Matthew C.; Hosken, Daniel | Review of Economics & Statistics | 2013 | Horizontal | Consumer Products | Prices |