Choné, Philippe; Linnemer, Laurent - Centre de Recherche en Économie et Statistique … - 2006
The analysis of horizontal mergers hinges on a tradeoff between unilateral effectsand efficiency gains. The article examines the role of uncertainty (on theefficiency gains) in this tradeoff. Common wisdom is that the antitrust authoritiesshould be very cautious about random gains. Our results...