policy. We address four core subject areas: market power, collusion, mergers between competitors, and monopolization. In each …

examples where courts have approved highly concentrating mergers based on limited evidence of entry and expansion. We show …

articulate in greater detail how they would treat claims of efficiencies associated with horizontal mergers: claims that are … experience under the revised Guidelines, including several litigated mergers, and based on economic principles drawn from …

Economists widely agree that, absent sufficient efficiencies or other offsetting factors, mergers that increase … in the antitrust review of mergers is sensible and economically well-founded. It might seem natural to determine whether …

Worldwide, the overwhelming majority of large horizontal mergers are cleared by antitrust authorities unconditionally …. The presumption seems to be that efficiencies from these mergers are sizeable. We calculate the compensating efficiencies … that would prevent a merger from harming consumers for 1,014 mergers affecting 12,325 antitrust markets scrutinized by the …

Worldwide, the overwhelming majority of large horizontal mergers are cleared by antitrust authorities unconditionally …. The presumption seems to be that efficiencies from these mergers are sizeable. We calculate the compensating efficiencies … that would prevent a merger from harming consumers for 1,014 mergers affecting 12,325 antitrust markets scrutinized by the …

Worldwide, the overwhelming majority of large horizontal mergers are cleared by antitrust authorities unconditionally …. The presumption seems to be that efficiencies from these mergers are sizeable. We calculate the compensating efficiencies … that would prevent a merger from harming consumers for 1,014 mergers affecting 12,325 antitrust markets scrutinized by the …

use a novel database that identifies over 20,000 product/geographic antitrust markets affected by over 2,000 mergers …