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Merger Policy and Innovation: Must Enforcement Change to Account for Technological Change?

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Author Info
Michael L. Katz
Howard A. Shelanski

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Abstract

Merger policy is the most active area of U.S. antitrust policy. It is now widely believed that merger policy must move beyond its traditional focus on static efficiency to account for innovation and address dynamic efficiency. Innovation can fundamentally affect merger analysis in two ways. First, innovation can dramatically affect the relationship between the pre-merger marketplace and what is likely to happen if a proposed merger is consummated. Thus, innovation can fundamentally influence the appropriate analysis for addressing traditional, static efficiency concerns. Second, innovation can itself be an important dimension of market performance that is potentially affected by a merger. We explore how merger policy is meeting the challenges posed by innovation.

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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 10710.

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Date of creation: Aug 2004
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Handle: RePEc:nbr:nberwo:10710

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L4 - Industrial Organization - - Antitrust Issues and Policies

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  1. Technology Assessment
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Cohen, Wesley M & Klepper, Steven, 1996. "A Reprise of Size and R&D," Economic Journal, Royal Economic Society, vol. 106(437), pages 925-51, July. [Downloadable!] (restricted)
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  1. Van Beers, Cees & Dekker, Ronald, 2009. "Acquisitions, Divestitures and Innovation Performance in the Netherlands," MPRA Paper 13464, University Library of Munich, Germany. [Downloadable!]
  2. Ornaghi, Carmine, . "Mergers and Innovation: The Case of the Pharmaceutical Industry," Discussion Paper Series In Economics And Econometrics 0605, Economics Division, School of Social Sciences, University of Southampton. [Downloadable!]
  3. Peter Møllgaard & Jo Lorentzen, 2005. "Competition Policy and Innovation," CIE Discussion Papers 2005-12, University of Copenhagen. Department of Economics. Centre for Industrial Economics. [Downloadable!]
  4. Norbäck, Pehr-Johan & Persson, Lars, 2008. "Entrepreneurial Innovations, Competition and Competition Policy," CEPR Discussion Papers 6823, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  5. Ganslandt, Mattias, 2008. "Intellectual Property Rights and Competition Policy," Working Paper Series 726, Research Institute of Industrial Economics. [Downloadable!]
  6. Møllgaard, Peter & Lorentzen, Jo, 2006. "Competition Policy and Innovation," Working Papers 09-2005, Copenhagen Business School, Department of Economics. [Downloadable!]
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