How practitioners model competition influences the predicted effects of a merger. We show how a Bertrand price setting and a second score auction model can be nested within a general bargaining framework. Through numerical simulations, we then show how the predicted merger effects vary with model choice, and that two commonly used strategies for obtaining demand parameters can yield markedly different outcomes across the models. Finally, we show how model and calibration strategy choices affect the magnitude of predicted harm in the 2012 Bazaarvoice/PowerReviews merger.

中文翻译：

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预测横向合并效应的模型选择的后果

从业者如何模拟竞争会影响合并的预测效果。我们展示了如何将 Bertrand 价格设置和第二分数拍卖模型嵌套在一般讨价还价框架中。然后，通过数值模拟，我们展示了预测的合并效应如何随模型选择而变化，以及两种常用的获取需求参数的策略可以在模型中产生明显不同的结果。最后，我们展示了模型和校准策略选择如何影响 2012 年 Bazaarvoice/PowerReviews 合并中预测损害的程度。