January 5, 2010
Should New Merger Guidelines Give UPP Market Definition?
Posted by D. Daniel Sokol
Richard Schmalensee (MIT Sloan School of Management) asks Should New Merger Guidelines Give UPP Market Definition?
ABSTRACT: In an important recent paper, Joseph Farrell and Carl Shapiro propose a new quantitative approach to assessing the competitive impact of horizontal mergers that does not involve defining a relevant market. I believe that FS have made a significant contribution that has the potential to improve merger enforcement. In what follows I describe their approach, propose a slight modification, and note that, like any purely quantitative technique, it must be used with care and common sense.
January 5, 2010 | Permalink
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