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	Provedor de dados AgEcon (1) Autor Brennan, Timothy J. (1) Palavra-chave Convergence (1) D43 (1) Electricity restructuring (1) Energy regulation (1) L22 (1) L40 (1) L94 (1) Resource /Energy Economics and Policy (1) Vertical integration (1) Vertical mergers (1) Mais... Tipo do documento Working or Discussion Paper (1) Ano 2001 (1) País United States (1) Idioma Inglês (1)		Ordenar por:  Relevância Autor Título Ano Registros recuperados: 1 Primeira ... 1 ... Última "Vertical Market Power" as Oxymoron: Getting Convergence Mergers Right AgEcon Brennan, Timothy J.. "Vertical market power" is a contradiction in terms because "market power" is essentially horizontal-that is, it depends on relationships of firms within markets. FERC invokes the term to assess "convergence" mergers between electricity generators and natural gas suppliers. It misapplies Department of Justice guidelines for vertical mergers and fails to identify exceptions to a presumption that market power depends only on competitive conditions at any single stage. A three-stage test can assess whether convergence mergers resemble horizontal ones. The key stage is the third: A convergence merger is more problematic the less vertical it is-that is, if the acquiring generator had no prior dealings with the acquired gas supplier. FERC's analyses in leading... Tipo: Working or Discussion Paper Palavras-chave: Vertical mergers; Electricity restructuring; Vertical integration; Convergence; Energy regulation; Resource /Energy Economics and Policy; L40; L94; L22; D43. Ano: 2001 URL: http://purl.umn.edu/10871 Registros recuperados: 1 Primeira ... 1 ... Última

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