Abstract
Economists have traditionally confined their study of mergers to the economy's private sector. Over the years a body of knowledge has contributed to our understanding of corporate buyouts and acquisitions. But what about the public sector? Can an industrial organization framework tell us anything about the performance of a public enterprise once amalgamated? This note suggests that industrial organization can offer some insight into government mergers. Our case study focuses on Great Britain's treatment of its naval aviation unit, the Royal Naval Air Service. The time, 1914 to 1945, covers naval aviation's evolution from the First through the Second World War. Specifically, Britain's aviation consolidation played a pivotal role in arresting the Royal Navy's once heralded lead in naval aviation.
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