attributable to the markets of concern. (i.e., by the “overlap”). If an antitrust agency challenges a merger having only a small … risks and time-delays) on the agency and firms. Given over 20 years of experience with modern merger analysis, it is …

The 1997 Merger Guidelines appeared to significantly expand the role of efficiency considerations in merger analysis … than reform policy. By combining an existing review of Federal Trade Commission merger studies after the 1997 reform, with … a new review of merger studies from the five years prior to the revision, it is possible to shed some light on this …

The 2010 Merger Guidelines define an improved road-map for merger analysis. Evidence is elevated to a position of … standard Guidelines' methodology.We recognize that the revisions significantly improve the transparency of merger policy, but …