主题｜Topic：非对称技术下寡头企业交叉持股的竞争与福利效应分析 (Competitive and Welfare Implications of Cross-Holdings in Oligopoly )
时间｜Time：11月23号（周五）｜Nov. 23th (Friday), 4：00 - 6：30PM
地点｜Venue：文波楼205教室｜Lecture Room 205，WENBO
主讲｜Speaker
马洪坤，山东大学经济学博士，新加坡国立大学访问学者，现为中山大学管理学院博士后，珠海金融投资控股集团有限公司博士后。研究方向为：产业组织理论、金融学、博弈论与行为金融等，目前已经在国际经济学SSCI杂志Economic Inquiry，Economic Letters，Annuals of Economics and Finance等发表多篇论文。
研究领域｜Research Interests
产业组织理论、金融学、博弈论、行为金融
Industrial Organization Theory, Finance, Game Theory, Behavioral Finance
摘要｜Abstract
Competitive implications of cross-holdings have been extensively analyzed in the literature. Incentives for engaging cross-holdings by firms were not well studied before nor were welfare effects of cross-holdings. Although a similar logic as with the merger paradox holds for Cournot oligopolies with homogeneous product and technology, we show that there are strong incentives for engaging in cross-holdings by oligopolistic firms with asymmetric technologies. Furthermore, it is also possible that total welfare can be enhanced with cross-holdings even though the market becomes more concentrated.
