On the Consistency of Merger Policy
AbstractThis paper presents a way to get around the information problem facing outside analysts who want to scrutinize competition authorities' decisions. A formal model of how decisions are taken is applied to infer information that is available to the authorities but not to the outside analyst. If the information thus inferred from several decisions is incompatible, it is claimed that the policy executed by the competition authorities is inconsistent. A case study is presented of two recent decisions by the Norwegian Competition Authority on proposed mergers in the Norwegian insurance industry, indicating they most likely were mutually inconsistent. Copyright 1997 by Blackwell Publishing Ltd
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Bibliographic InfoArticle provided by Wiley Blackwell in its journal Journal of Industrial Economics.
Volume (Year): 45 (1997)
Issue (Month): 1 (March)
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0022-1821
Other versions of this item:
- G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
- M21 - Business Administration and Business Economics; Marketing; Accounting - - Business Economics - - - Business Economics
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
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