Abstract
Click to increase image sizeClick to decrease image size Notes 1. US Department of Justice and Federal Trade Commission, Horizontal Merger Guidelines (2010). Available at: http://www.justice.gov/atr/public/guidelines/hmg-2010.pdf 2. Indicator variables for the diagnosis categories are included in the econometric model, but parameter estimates are not reported in the paper. However, six of the diagnosis categories are obstetric related, so if quality improved significantly in that specialty, quality‐adjusted price changes might be smaller than the data indicate. 3. In general, these and other considerations suggest that it may be useful to allow the DID coefficient to vary across diagnosis category to allow for the possibility that the merger had differing effects on the categories.
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