{"title":"美国精酿啤酒行业的收购、产品种类和分销","authors":"Wesley Blundell, Kyle Wilson","doi":"10.1111/ecin.13153","DOIUrl":null,"url":null,"abstract":"<p>Though antitrust authorities have historically focused on prices in merger analyses, there is now growing interest in the impact of mergers on non-price outcomes. In this paper, we examine the effect of horizontal mergers on product variety in the U.S. beer industry. Our difference-in-differences analyses provide evidence that acquired firms increase variety available to consumers by expanding into new markets, while reducing the variety of products sold in their existing markets. Back of the envelope calculations suggest that in aggregate, these acquisitions have a net positive effect on product variety.</p>","PeriodicalId":51380,"journal":{"name":"Economic Inquiry","volume":null,"pages":null},"PeriodicalIF":1.7000,"publicationDate":"2023-05-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Acquisitions, product variety, and distribution in the U.S. craft beer industry\",\"authors\":\"Wesley Blundell, Kyle Wilson\",\"doi\":\"10.1111/ecin.13153\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<p>Though antitrust authorities have historically focused on prices in merger analyses, there is now growing interest in the impact of mergers on non-price outcomes. In this paper, we examine the effect of horizontal mergers on product variety in the U.S. beer industry. Our difference-in-differences analyses provide evidence that acquired firms increase variety available to consumers by expanding into new markets, while reducing the variety of products sold in their existing markets. Back of the envelope calculations suggest that in aggregate, these acquisitions have a net positive effect on product variety.</p>\",\"PeriodicalId\":51380,\"journal\":{\"name\":\"Economic Inquiry\",\"volume\":null,\"pages\":null},\"PeriodicalIF\":1.7000,\"publicationDate\":\"2023-05-19\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Economic Inquiry\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://onlinelibrary.wiley.com/doi/10.1111/ecin.13153\",\"RegionNum\":4,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q2\",\"JCRName\":\"ECONOMICS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Economic Inquiry","FirstCategoryId":"96","ListUrlMain":"https://onlinelibrary.wiley.com/doi/10.1111/ecin.13153","RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"ECONOMICS","Score":null,"Total":0}
Acquisitions, product variety, and distribution in the U.S. craft beer industry
Though antitrust authorities have historically focused on prices in merger analyses, there is now growing interest in the impact of mergers on non-price outcomes. In this paper, we examine the effect of horizontal mergers on product variety in the U.S. beer industry. Our difference-in-differences analyses provide evidence that acquired firms increase variety available to consumers by expanding into new markets, while reducing the variety of products sold in their existing markets. Back of the envelope calculations suggest that in aggregate, these acquisitions have a net positive effect on product variety.
期刊介绍:
Published since 1962, (formerly Western Economic Journal), EI is widely regarded as one of the top scholarly journals in its field. Besides containing research on all economics topic areas, a principal objective is to make each article understandable to economists who are not necessarily specialists in the article topic area. Nine Nobel laureates are among EI long list of prestigious authors.