嘉    宾：王成思 副教授  蒙纳士大学

主持人： 赵   锂 副教授 金沙威尼斯欢乐娱人城

时    间：2024年12月25日（周五）14:00-15:30

地    点:  金沙威尼斯欢乐娱人城徐汇校区金沙威尼斯欢乐娱人城A511

内容简介：

We study the impact of a dominant incumbent's acquisition on entry and R&D incentives in a model with multiple start-ups. The incumbent's acquisition directly suppresses entry and can distort the non-target start-up's R&D incentives by creating a kill zone. The reduced threat of entry can also cause the incumbent to shelve the acquired technology. Despite these negative effects, acquisitions generally affect consumer welfare ambiguously due to synergy benefits. We study the design of merger policies aimed at minimizing acquisition-related harms. We also show that entry-for-buyout may not be a valid defence for start-up acquisitions when accounting for non-target start-ups.

演讲人简介：

Chengsi Wang is an Associate Professor of Economics at Monash University in Australia and the Director of the Business School’s Digital Lab. His research focuses on Industrial Organization, Competition Policy, and the Digital Economy. Chengsi’s work has been published in leading economics and management journals, including the Journal of the European Economic Association, Management Science, the RAND Journal of Economics, and the Journal of Economic Theory. Before joining Monash, he was an Assistant Professor at the University of Mannheim in Germany. He earned his PhD from the University of New South Wales in 2012, following his bachelor’s and master’s studies at Southeast University and Nanjing University, respectively. Chengsi currently serves as an Associate Editor of the Journal of Industrial Economics.