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Effects of the 2010 Horizontal Merger Guidelines on Merger Review: Based on Ten Years of Practical Experience.

Authors :
Carlton, Dennis W.
Israel, Mark A.
Source :
Review of Industrial Organization; Feb2021, Vol. 58 Issue 1, p213-234, 22p
Publication Year :
2021

Abstract

We assess how the 2010 Merger Guidelines have been applied by agencies and courts. We conclude that: Increased reliance on direct evidence of market power has improved the analysis of mergers, but courts still sometimes overemphasize market definition. Market concentration thresholds remain a reflection of agency practice rather than economic research. The Upward Price Pressure concept yields useful intuition, but UPP can be overused. The benefits that could arise from the renewed focus on coordinated effects are squandered by the lack of a rigorous economic framework recognizing the connection to unilateral effects. The lack of merger retrospectives remains a problem. [ABSTRACT FROM AUTHOR]

Details

Language :
English
ISSN :
0889938X
Volume :
58
Issue :
1
Database :
Complementary Index
Journal :
Review of Industrial Organization
Publication Type :
Academic Journal
Accession number :
148753527
Full Text :
https://doi.org/10.1007/s11151-020-09798-4