This paper focuses on the assessment of mergers, and in particular on unilateral effects analysis where innovation plays an important role. The paper discusses the economic theories behind innovation, how we move from the traditional product-by-product market definition to pipeline competition...

This article will start with presenting the Commission's approach towards efficiencies in mergers. The three above-mentioned EC cases will be analysed in order to assess the extent to which the Commission takes efficiencies into account in its merger assessment. Subsequently, the article will...