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 …

(lower marginal cost) are greater. The reason is that greater efficiency gains decrease the probability of post-merger entry …I analyze the effects of a merger between two firms in a differentiated-goods duopoly. I make the crucial assumption … that the industry is at a free-entry equilibrium both before and after the merger. In particular, I allow for the …

actually reduce consumer surplus which opposes the use of an efficiency defense in merger control. …

either merge with a similar component producer (horizontal merger) or a complementary one (vertical merger) of a composite …, higher marginal cost savings are required for a horizontal merger in a composite industry not to result in a price increase …