A Retrospective Merger Analysis in the Long-Distance Bus Industry in France

Présentation de Thierry Blayac (Université de Montpellier)

Thierry Blayac (Université de Montpellier), en collaboration avec Patrice Bougette (University Côte d’Azur, GREDEG)

Résumé : This study estimates the price and efficiency effects of horizontal mergers in the French long-distance bus industry. We examine two mergers that followed the 2015 deregulation Act of the Macron Law. Using a unique and exhaustive database, we identify price and efficiency effects by comparing bus routes affected by mergers to unaffected routes using difference-in-difference estimations with propensity score matching. We find that the two mergers following industry deregulation seem to be associated with price increases and no efficiency gains.