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Market Concentration, Multi-Market Participation and Antitrust

In: Research in Law and Economics

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  • Dennis L. Weisman

Abstract

This article explores the trade-offs between market concentration and multi-market participation in evaluating proposed mergers. For complementary demands, the price-decreasing effect of multi-market participation provides a countervailing influence on the price-increasing effect of higher concentration. The larger the footprint of the multi-market provider, the greater the likelihood the price-decreasing effect dominates. Higher concentration may be consistent with non-increasing prices despite the absence of merger economies. In the case of substitutes, multi-market participation compounds the price-increasing effect of higher concentration. Merger guidelines that place undue emphasis on market concentration can lead policymakers to block mergers that enhance consumer welfare and vice versa.

Suggested Citation

  • Dennis L. Weisman, 2007. "Market Concentration, Multi-Market Participation and Antitrust," Research in Law and Economics, in: Research in Law and Economics, pages 233-257, Emerald Group Publishing Limited.
    • Handle: RePEc:eme:rlwezz:s0193-5895(06)22008-6
    DOI: 10.1016/S0193-5895(06)22008-6
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