Can mergers increase output? Evidence from the lodging industry.
We find that hotel mergers increase occupancy. In some specifications, price also rises. Because these effects occur only in markets with high capacity utilization and high uncertainty, we reject simple models of price or quantity competition in favor of models of 'revenue management,' where firms p...
| Publicado en: | RAND Journal of Economics (Wiley-Blackwell) Vol. 48; no. 1; pp. 178 - 203 |
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| Autores principales: | , , |
| Formato: | Artículo |
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Wiley-Blackwell
Spring2017
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=121147681&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 121147681 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 07416261 56RJ jtl: RAND Journal of Economics (Wiley-Blackwell) issn: 07416261 maglogo: Y pubinfo: dt: Spring2017 vid: 48 iid: 1 pid: 480 pub: Wiley-Blackwell artinfo: ui: 121147681 10.1111/1756-2171.12172 ppf: 178 ppct: 25 formats: fmt: – @attributes: type: T – @attributes: type: P size: 431KB tig: atl: Can mergers increase output? Evidence from the lodging industry. aug: au: Kalnins, Arturs Froeb, Luke Tschantz, Steven affil: Cornell University Vanderbilt University su: Economic demand Prices Hotel mergers Revenue management Antitrust law Mergers & acquisitions sug: subj: Economic demand Prices Hotels (except Casino Hotels) and Motels Hotels Commercial and Institutional Building Construction Hotel mergers Revenue management Antitrust law Mergers & acquisitions ab: We find that hotel mergers increase occupancy. In some specifications, price also rises. Because these effects occur only in markets with high capacity utilization and high uncertainty, we reject simple models of price or quantity competition in favor of models of 'revenue management,' where firms price to fill available capacity in the face of uncertain demand. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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