We offer recommendations for how the Department of Justice and the Federal Trade Commission can update the Horizontal Merger Guidelines ("HMGs") to strengthen merger enforcement. We focus our recommendations on three main areas. First, we suggest several ways that the HMGs can strengthen the...

Economists widely agree that, absent sufficient efficiencies or other offsetting factors, mergers that increase concentration substantially are likely to be anticompetitive. Further, holding everything else equal, the magnitude of anticompetitive effects tends to be larger, the larger is the...