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

In: Innovation Policy and the Economy, Volume 5

  • Michael L. Katz
  • Howard A. Shelanski

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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This chapter was published in:
  • Adam B. Jaffe & Josh Lerner & Scott Stern, 2005. "Innovation Policy and the Economy, Volume 5," NBER Books, National Bureau of Economic Research, Inc, number jaff05-1, July.
  • This item is provided by National Bureau of Economic Research, Inc in its series NBER Chapters with number 10809.
    Handle: RePEc:nbr:nberch:10809
    Contact details of provider: Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.
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    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.
    2. repec:cup:cbooks:9780521293853 is not listed on IDEAS
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