This paper considers merger control in a common agency framework where firms and their competitors can influence the … attractive when mergers are large, when increasing the size of a merger greatly enhances industry profits, when there is little …

We construct a unique dataset of legislative reforms in merger control legislation that occurred in nineteen industrial … standard monopolistic hypothesis, we find that the strengthening of merger control decreases the stock prices of non … merger control is anticipated to provide a 'checks and balances' mechanism that mitigates the value-destroying influence of …

In this paper, we analyse the scope for conflict between national merger control agencies that assert jurisdictions … simultaneously. We consider a positive model of merger control in which market definition and the analysis of dominance are both … explicitly specified. We find that conflict in international merger control is less likely to occur when economic integration is …

less valuable. The latter effect is due to downstream competition between buyers and, as we show, is also stronger the …

differentiation. An increase in concentration is more likely under Cournot competition if products are complements and more likely … under Bertrand competition if products are substitutes. Moreover, as products become closer substitutes, a takeover becomes … more likely under Bertrand and less likely under Cournot competition. …

structural approach to infer acquirers’ gains from merging by interpreting a merger as an auction. Using nonparametric methods …

We study optimal merger policy in a dynamic model in which the presence of scale economies implies that firms can … the period the merger is proposed. We also find that the ability to commit can lead to a significant welfare improvement …

The optimal competition policy when licensing is an alternative to a merger, which has the intention of transferring a … superior technology, and is derived in a differentiated goods duopoly, as in the cases of Cournot and Bertrand competition. We … of the US Horizontal Merger Guidelines. In contrast, when only one instrument is feasible, be it fixed fees or royalties …