definition and the complexity of the merger. Simple, linear probability models as usually applied in the literature overestimate …We study the evolution of EC merger decisions over the first 25 years of common European merger policy. Using a novel … dataset at the level of the relevant antitrust markets and containing all merger cases scrutinized by the Commission over the …

We study optimal merger policy in a dynamic model in which the presence of scale economies implies that firms can … the period the merger is proposed. We also find that the abil- ity to commit can lead to a significant welfare improvement …

that would prevent a merger from harming consumers for 1,014 mergers affecting 12,325 antitrust markets scrutinized by the … concerns about the Commission's merger enforcement being too lax. …