Vertical integration and market foreclosure

该项目分析了垂直整合对市场结果的影响。具体而言，我实证研究的相对规模的效率和止赎效果的垂直整合，在美国有线电视行业的目的，了解福利的影响垂直整合。分析发现，由于行业合并，市场价格下降，表明效率可能有所提高。然而，尽管频道捆绑质量较低，但综合有线电视公司对自有频道的偏好仍然存在;合并带来的效率收益没有传递给消费者。

This project analyzes effects of vertical integrations on market outcomes. Specifically, I empirically examine the relative size of the efficiency and foreclosure effects of vertical integrations in the US cable television industry for the purpose of understanding the welfare implication of vertical integration. The analysis finds that market prices were dropped due to the merger in the industry, suggesting that there might have been an improvement in efficiency. However, the preference for own channels by the integrated cable television company persisted despite a lower quality of channel bundles; efficiency gains from the merger were not passed on to consumers.