The Merger Clearance Decision Process in New Zealand: Application of a New Two-Stage Probit Model

The Merger Clearance Decision Process in New Zealand: Application of a New Two-Stage Probit Model This paper analyses empirically the factors that influence the merger decision-making process of the New Zealand Commerce Commission using discrete-choice econometric modelling. Previous studies in various countries have typically modelled this process as involving a single step, even when a formal two-step process is actually used. We apply a new approach that treats merger decision-making as a two-step process, and compare the results with those from applications of the conventional one-step and ordered probit models. We expect the new approach to avoid biases inherent in the previous models, and therefore to produce statistically superior results. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Review of Industrial Organization Springer Journals

The Merger Clearance Decision Process in New Zealand: Application of a New Two-Stage Probit Model

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Publisher
Springer US
Copyright
Copyright © 2013 by Springer Science+Business Media New York
Subject
Economics / Management Science; Industrial Organization; Microeconomics
ISSN
0889-938X
eISSN
1573-7160
D.O.I.
10.1007/s11151-013-9404-x
Publisher site
See Article on Publisher Site

Abstract

This paper analyses empirically the factors that influence the merger decision-making process of the New Zealand Commerce Commission using discrete-choice econometric modelling. Previous studies in various countries have typically modelled this process as involving a single step, even when a formal two-step process is actually used. We apply a new approach that treats merger decision-making as a two-step process, and compare the results with those from applications of the conventional one-step and ordered probit models. We expect the new approach to avoid biases inherent in the previous models, and therefore to produce statistically superior results.

Journal

Review of Industrial OrganizationSpringer Journals

Published: Oct 8, 2013

References

  • An empirical analysis of Mexican merger policy
    Avalos, M; Hoyos, RE
  • Comparing merger policies in the European Union and the United States
    Bergman, MA; Coate, MB; Jakobsson, M; Ulrick, SW
  • European antitrust policy, 1957–2004: An analysis of commission decisions
    Carree, M; Gunster, A; Schinkel, MP

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