guidelines reflect a substantial consensus on the appropriate template for merger assessment. Nevertheless, official protocols …

their tendency to raise prices. Yet efficiencies are said to be rarely decisive in actual merger decision-making. Moreover …, the economic analysis of merger efficiencies lags far behind that of anticompetitive effects. This article addresses this … analytical gap, drawing attention to the merger specificity of both efficiencies and anticompetitive effects, the teachings of …

This article explores the many ways that entry is relevant to horizontal merger analysis.Only one, however, is part of … examines entry in imperfectlycompetitive markets. Ex post entry—postmerger entry induced by a merger’s anticompetitiveeffects ….This consideration favors more stringent merger policy in some settings and more permissivereview in others. Recent attention, especially …

reconciled with principles of oligopoly theory. This article (1) presents a fundamental reconceptualization of our understanding …