Long-Run Effects of Mergers: The Case of US Western Railroads

被引：17
|
作者：
Winston, Clifford [1 ]
Maheshri, Vikram [2 ]
Dennis, Scott M.
机构：
[1] Brookings Inst, Washington, DC 20036 USA
[2] Univ Houston, Houston, TX 77004 USA
来源：
JOURNAL OF LAW & ECONOMICS | 2011年 / 54卷 / 02期
关键词：
D O I：
10.1086/655164
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We provide a retrospective assessment of the effects of the two recent major railroad mergers in the western United States (Burlington Northern-Atchison-Topeka-Santa Fe and Union Pacific-Southern Pacific) on the price of rail transport of export grain. Estimation accounts for selectivity bias that arises because rail prices are observed only for routes with traffic. Despite concerns that both mergers could harm consumers by reducing carrier competition, we find that, in the long run, the mergers have had negligible effects on grain transportation prices and consumer welfare.
引用
收藏
页码：275 / 304
页数：30
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