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Should alternative mergers be considered by antitrust authorities?

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Author Info
Duarte Brito () (Universidade Nova de Lisboa)

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Abstract

This paper illustrates that taking alternative mergers into consideration when analyzing the effects of a proposed merger may provide some information to the antitrust authorities. In particular, the use of revealed preference may allow the authorities to establish an expected upper limit on the efficiency gains obtained in a given merger that also increases the participants’ market power. Such limit can then be compared to the lower threshold necessary for merger approval. The policy implications of this result are discussed.

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File URL: http://www.concorrencia.pt/download/WP01_alternative_mergers.pdf
File Format: application/pdf
File Function: First version, 2003
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Publisher Info
Paper provided by Portuguese Competition Authority in its series Working Papers with number 01.

Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Length: 15 pages
Date of creation: Aug 2003
Date of revision:
Publication status: Published in International Journal of Industrial Organization, 23 (2005) 129– 153
Handle: RePEc:pca:wpaper:01

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Related research
Keywords: Mergers; acquisitions; revealed preference; synergies;

Find related papers by JEL classification:
L41 - Industrial Organization - - Antitrust Issues and Policies - - - Monopolization; Horizontal Anticompetitive Practices
L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General

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. Damien J. Neven & Lars-Hendrik Röller, 2000. "Consumer Surplus vs. Welfare Standard in a Political Economy Model of Merger Control," CIG Working Papers FS IV 00-15, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG). [Downloadable!]
    Other versions:
  2. Daniel McFadden, 1976. "The Revealed Preferences of a Government Bureaucracy: Empirical Evidence," Bell Journal of Economics, The RAND Corporation, vol. 7(1), pages 55-72, Spring. [Downloadable!] (restricted)
  3. Persson, L., 1999. "The Auctioning of a Failing Firm," Research Institute of Industrial Economics Working Papers 514, Research Institute of Industrial Economics (IFN).
    Other versions:
  4. Steven C. Salop, 1979. "Monopolistic Competition with Outside Goods," Bell Journal of Economics, The RAND Corporation, vol. 10(1), pages 141-156, Spring. [Downloadable!] (restricted)
  5. Nilssen, Tore & Sorgard, Lars, 1998. "Sequential horizontal mergers," European Economic Review, Elsevier, vol. 42(9), pages 1683-1702, November. [Downloadable!] (restricted)
    Other versions:
  6. Horn, Henrik & Persson, Lars, 2001. "The equilibrium ownership of an international oligopoly," Journal of International Economics, Elsevier, vol. 53(2), pages 307-333, April. [Downloadable!] (restricted)
    Other versions:
  7. Daniel McFadden, 1975. "The Revealed Preferences of a Government Bureaucracy: Theory," Bell Journal of Economics, The RAND Corporation, vol. 6(2), pages 401-416, Autumn. [Downloadable!] (restricted)
  8. Horn, Henrik & Persson, Lars, 2001. "Endogenous mergers in concentrated markets," International Journal of Industrial Organization, Elsevier, vol. 19(8), pages 1213-1244, September. [Downloadable!] (restricted)
    Other versions:
  9. Farrell, Joseph & Shapiro, Carl, 1990. "Horizontal Mergers: An Equilibrium Analysis," American Economic Review, American Economic Association, vol. 80(1), pages 107-26, March. [Downloadable!] (restricted)
    Other versions:
  10. Vickrey, William S. & Anderson, Simon P. & Braid, Ralph M., 1999. "Spatial competition, monopolistic competition, and optimum product diversity," International Journal of Industrial Organization, Elsevier, vol. 17(7), pages 953-963, October. [Downloadable!] (restricted)
  11. Nilssen, Tore, 1997. "On the Consistency of Merger Policy," Journal of Industrial Economics, Blackwell Publishing, vol. 45(1), pages 89-100, March. [Downloadable!] (restricted)
    Other versions:
  12. Bloch, Francis, 1996. "Sequential Formation of Coalitions in Games with Externalities and Fixed Payoff Division," Games and Economic Behavior, Elsevier, vol. 14(1), pages 90-123, May. [Downloadable!] (restricted)
  13. Francis Bloch, 1995. "Endogenous Structures of Association in Oligopolies," RAND Journal of Economics, The RAND Corporation, vol. 26(3), pages 537-556, Autumn. [Downloadable!] (restricted)
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