We study optimal merger policy in a dynamic model in which the presence of scale economies implies that firms can … reduce costs through either internal investment in build- ing capital or through mergers. The model, which we solve … computationally, allows firms to invest or propose mergers according to the relative profitability of these strategies. An antitrust …

that would prevent a merger from harming consumers for 1,014 mergers affecting 12,325 antitrust markets scrutinized by the …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 1,014 mergers affecting 12,325 antitrust markets scrutinized by the …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 …

use a novel database that identifies over 20,000 product/geographic antitrust markets affected by over 2,000 mergers … scrutinized by the European Commission between 1995 and 2014. We show that concentration, as measured by the market-specific post-merger … industries. In a regression analysis that exploits this within-industry variation, we show that barriers to entry are …

use a novel database that identifies over 20,000 product/geographic antitrust markets affected by over2,000 mergers … scrutinized by the European Commission between 1995 and 2014. We show that concentration, as measured by the market-specific post-merger … industries. In a regression analysis that exploits this within-industry variation, we show that barriers to entry are …