Job Market Paper
Ziyi Qiu (2018). Merger Analysis with Endogenous Prices and Product Characteristics – the Generalized Theorem and the Application of the U.S. Airline Industry. SSRN Working Paper. Under review.
Abstract. This paper studies firms’ endogenous choices of prices and product characteristics pre- and post-merger. The paper finds that firms’ adjustments of post-merger prices and product characteristics depend on pre-merger market shares, net benefits of improving product characteristics, overall production efficiencies and threshold market shares that balance marginal cost and markup effects. A generalized theorem is provided to characterize the conditions to predict post-merger outcomes. An application of the 2010 merger of United and Continental Airlines demonstrates that the theorem achieves high prediction accuracy in predicting post-merger outcomes.
Other Research & Publications
Xin Ding, Ziyi Qiu, Xiaohui Chen (2017). Sparse Transition Matrix Estimation for High-Dimensional and Locally Stationary Vector Autoregressive Models, Electronic Journal of Statistics, 2017, 11(2), 3871-3902.
Ziyi Qiu (2018). How Downstream Retailer Merger Affects Upstream Manufacture and Downstream Retail Market? A Generalized Theorem and Applications to Different Market Types. SSRN Working Paper. Under review.
Ziyi Qiu (2018). Policy Distortions, the Single Country General Equilibrium and the Two Country Trading Pattern. SSRN Working Paper. Under review.
Ziyi Qiu (2018). Structural State Dependence and Consumers’ Unobserved Heterogeneity: A Case Study of the U.S. Coffee Market. SSRN Working Paper. Under review.