harm is a critical issue of antitrust enforcement. This Article evaluates economic analyses of merger efficiencies and … merger likely rests on an overly-optimistic view of the likely existence of cognizable efficiencies, which we label a … “standard efficiency credit” that influences market concentration analysis. Second, criticisms of the current treatment of …

between increases in concentration and carriers' prices. The specifics of each merger case clearly matter. Moreover, we find a … positive correlation between the price and the investment effects; when the prices after merger increase (decrease), the …

-through of efficiency gains along merging firms' supply chains is as important as the effects of post-merger changes in market …, and suppliers. We measure operating efficiency gains using projections disclosed by merging firms' insiders. Higher … efficiency gains are associated with lower announcement returns to merging firms' rivals (due to increased equilibrium output of …

We study the incentives towards horizontal merger among firms when the amount of capital is the strategic variable. The … maximisers. Within a simple oligopoly model, we prove that the horizontal merger, for any merger size, is: (i) privately … merger to monopoly. …