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

  • 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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File URL: http://www.nber.org/papers/w10710.pdf
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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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Publication status: published as Merger Policy and Innovation: Must Enforcement Change to Account for Technological Change? , Michael L. Katz, Howard A. Shelanski. in Innovation Policy and the Economy, Volume 5 , Jaffe, Lerner, and Stern. 2005
Handle: RePEc:nbr:nberwo:10710
Note: IO PR
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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.
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