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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...
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In current horizontal merger policy in the US and the EU an explicit efficiency defense is allowed. On both sides of …-wealth maximizing behavior. To tackle this problem I argue that efficiencies should not only be used as an efficiency defense, but … undertake a sequential efficiency test in their assessment of specific mergers …
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We consider antitrust enforcement within the adversarial model used by the United States. We show that, under the adversarial system, the Antitrust Authority may try to prohibit mergers also in those cases in which litigation is ineØ cient. Even if market concentration and technological...
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We analyze the efficiency defense in merger control. First, we show that the relationship between exogenous efficiency … Mergers ; Efficiency Defense ; Merger Specific Efficiencies …
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