Merger Policy and Innovation: Must Enforcement Change to Account for Technological Change?
AbstractMerger 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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Date of creation: Aug 2004
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Publication status: published as Michael L. Katz, Howard A. Shelanski. "Merger Policy and Innovation: Must Enforcement Change to Account for Technological Change?," in Adam B. Jaffe, Josh Lerner and Scott Stern, editors, "Innovation Policy and the Economy, Volume 5" The MIT Press (2005)
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- Michael L. Katz & Howard A. Shelanski, 2005. "Merger Policy and Innovation: Must Enforcement Change to Account for Technological Change?," NBER Chapters, in: Innovation Policy and the Economy, Volume 5, pages 109-165 National Bureau of Economic Research, Inc.
- L4 - Industrial Organization - - Antitrust Issues and Policies
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