Merger control authorities may approve a merger based on a so-called 'efficiency defence'. An important aspect in … clearing mergers is that the efficiencies need to be merger-specific. Joint ventures, and in particular research joint ventures …

accession of Theodore Roosevelt to the presidency. During McKinley's term in office the largest wave of merger activity in …

Merger policy is the most active area of U.S. antitrust policy. It is now widely believed that merger policy must move … fundamentally affect merger analysis in two ways. First, innovation can dramatically affect the relationship between the pre-merger … marketplace and what is likely to happen if a proposed merger is consummated. Thus, innovation can fundamentally influence the …

The 2010 Department of Justice and Federal Trade Commission Horizontal Merger Guidelines lay out a new standard for … cases in which the GUPPI would imply increased regulatory scrutiny of a proposed merger …

In this paper we propose a method to evaluate the effectiveness of U.S. horizontal merger policy and apply it to the … merger had little effect …

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 …

of oligopoly concerns resulting from mergers. In this paper, we provide a critique of Bork's views on merger policy from … The Antitrust Paradox. Many of Bork's recommendations have been implemented over time and have improved merger analysis …. Bork's proposed horizontal merger policy, however, was too permissive. In particular, the empirical record shows that …

The challenge of effective merger enforcement is tremendous. U.S. antitrust agencies must, by statute, quickly forecast … estimating the price effects of mergers. We also describe how evidence from merger retrospectives can be used to evaluate the …

We analyze the optimal dynamic policy of an antitrust authority towards horizontal mergers when merger proposals are … endogenous and occur over time. Approving a currently proposed merger will affect the profitability and welfare effects of … surplus by using a completely myopic merger review policy that approves a merger today if and only if it does not lower …

example, U.S. antitrust agencies lost several hospital merger challenges when evidence showed that a nontrivial fraction of …