economic incentives for innovation. Competition policy and antitrust enforcement have traditionally focused on prices rather … than innovation. Economic theory shows the ways that price competition benefits consumers; and courts, antitrust agencies … effect of mergers on innovation and future price competition; and reviews the empirical literature on competition, mergers …

There are legal grounds to hear competitors in merger control proceedings, and competitor involvement has gained … significance. To what extent this is economically sensible is our question. The competition authority applies some welfare standard … in EU merger cases and give an overview of the legal discussion in the EU and US. …