Horizontal Mergers Market Structure And Burdens Of Proof

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Horizontal Mergers, Market Structure, and Burdens of Proof

Author : Herbert Hovenkamp
Publisher :
ISBN 13 :
Total Pages : 30 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Horizontal Mergers, Market Structure, and Burdens of Proof by : Herbert Hovenkamp

Download or read book Horizontal Mergers, Market Structure, and Burdens of Proof written by Herbert Hovenkamp and published by . This book was released on 2018 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the Supreme Court's landmark 1963 decision in Philadelphia National Bank, antitrust challengers have mounted prima facie cases against horizontal mergers that rested on the level and increase in market concentration caused by the merger, with proponents of the merger then permitted to rebut by providing evidence that the merger will not have the feared anticompetitive effects. Although the way that concentration is measured and the triggering levels have changed over the last half century, the basic approach has remained intact. This longstanding structural presumption, which is well supported by economic theory and evidence, has been critical to effective merger enforcement. We suggest some ways to strengthen it further.One critical assumption in this burden shifting framework is that the goal of merger policy is to protect consumers against high prices or reduced output, product variety, product quality, or innovation (“consumer welfare”). If the goal is something else, such as deterring industrial concentration to control corporate political power, or protecting small firms from larger competitors, then the structural presumption must be viewed differently. The bulk of this essay examines and defends the role of structural presumptions in the present legal world where protection of consumer welfare is the point of merger enforcement. We also briefly consider a legislative proposal that could be seen as departing from this norm, offering some guidance concerning how this proposal could be improved so as to strengthen merger enforcement, in part by making it easier for the government to establish its prima facie case.

Horizontal Mergers

Author : William Blumenthal
Publisher : American Bar Association
ISBN 13 : 9780897072403
Total Pages : 356 pages
Book Rating : 4.0/5 (724 download)

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Book Synopsis Horizontal Mergers by : William Blumenthal

Download or read book Horizontal Mergers written by William Blumenthal and published by American Bar Association. This book was released on 1986 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: Number 14 in the Antitrust law Section monograph series, this work summarizes the state of the law in every area affecting semihorizontal, conglomerate and vertical mergers, and was prepared as a companion to Monograph 12.

How the Chicago School Overshot the Mark

Author : Robert Pitofsky
Publisher : Oxford University Press
ISBN 13 : 0199706751
Total Pages : 324 pages
Book Rating : 4.1/5 (997 download)

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Book Synopsis How the Chicago School Overshot the Mark by : Robert Pitofsky

Download or read book How the Chicago School Overshot the Mark written by Robert Pitofsky and published by Oxford University Press. This book was released on 2008-10-14 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: How the Chicago School Overshot the Mark is about the rise and recent fall of American antitrust. It is a collection of 15 essays, almost all expressing a deep concern that conservative economic analysis is leading judges and enforcement officials toward an approach that will ultimately harm consumer welfare. For the past 40 years or so, U.S. antitrust has been dominated intellectually by an unusually conservative style of economic analysis. Its advocates, often referred to as "The Chicago School," argue that the free market (better than any unelected band of regulators) can do a better job of achieving efficiency and encouraging innovation than intrusive regulation. The cutting edge of Chicago School doctrine originated in academia and was popularized in books by brilliant and innovative law professors like Robert Bork and Richard Posner. Oddly, a response to that kind of conservative doctrine may be put together through collections of scores of articles but until now cannot be found in any one book. This collection of essays is designed in part to remedy that situation. The chapters in this book were written by academics, former law enforcers, private sector defense lawyers, Republicans and Democrats, representatives of the left, right and center. Virtually all agree that antitrust enforcement today is better as a result of conservative analysis, but virtually all also agree that there have been examples of extreme interpretations and misinterpretations of conservative economic theory that have led American antitrust in the wrong direction. The problem is not with conservative economic analysis but with those portions of that analysis that have "overshot the mark" producing an enforcement approach that is exceptionally generous to the private sector. If the scores of practices that traditionally have been regarded as anticompetitive are ignored, or not subjected to vigorous enforcement, prices will be higher, quality of products lower, and innovation diminished. In the end consumers will pay.

What Structural Presumption?

Author : Sean Sullivan
Publisher :
ISBN 13 :
Total Pages : 43 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis What Structural Presumption? by : Sean Sullivan

Download or read book What Structural Presumption? written by Sean Sullivan and published by . This book was released on 2018 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: The “structural presumption” is a proposition in antitrust law standing for the typical illegality of mergers that would combine rival firms with large shares of the same market. Courts and commentators are rarely precise in their use of the word “presumption” and there is foundational confusion about what kind of presumption this proposition actually entails. It could either be a substantive factual inference based on economic theory or a procedural device for artificially shifting the burden of production at trial. This Article argues that the substantive inference interpretation is the better reading of case law and the sounder application of the laws of antitrust and evidence. By instead interpreting the structural presumption as a formal rebuttable presumption, modern merger analysis needlessly complicates the use of market concentration evidence and may be systematically undervaluing the probative weight of this evidence. At least in this context, a formal presumption likely confers less evidentiary weight than a simple substantive inference.

Mergers, Merger Control, and Remedies

Author : John Kwoka
Publisher : MIT Press
ISBN 13 : 0262028484
Total Pages : 283 pages
Book Rating : 4.2/5 (62 download)

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Book Synopsis Mergers, Merger Control, and Remedies by : John Kwoka

Download or read book Mergers, Merger Control, and Remedies written by John Kwoka and published by MIT Press. This book was released on 2015 with total page 283 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive analysis of merger outcomes based on all empirical studies, with an assessment of the effectiveness of antitrust policy toward mergers. In recent decades, antitrust investigations and cases targeting mergers—including those involving Google, Ticketmaster, and much of the domestic airline industry—have reshaped industries and changed business practices profoundly. And yet there has been a relative dearth of detailed evaluations of the effects of mergers and the effectiveness of merger policy. In this book, John Kwoka, a noted authority on industrial organization, examines all reliable empirical studies of the effect of specific mergers and develops entirely new information about the policies and remedies of antitrust agencies regarding these mergers. Combined with data on outcomes, this policy information enables analysis of, and creates new insights into, mergers, merger policies, and the effectiveness of remedies in preventing anticompetitive outcomes. After an overview of mergers, merger policy, and a common approach to merger analysis, Kwoka offers a detailed analysis of the studied mergers, relevant policies, and chosen remedies. Kwoka finds, first and foremost, that most of the studied mergers resulted in competitive harm, usually in the form of higher product prices but also with respect to various non-price outcomes. Other important findings include the fact that joint ventures and code sharing arrangements do not result in such harm and that policies intended to remedy mergers—especially conduct remedies—are not generally effective in restraining price increases. The book's uniquely comprehensive analysis advances our understanding of merger decisions and policies, suggests policy improvements for competition agencies and remedies, and points the way to future research.

Profitable Horizontal Mergers Without Cost Advantages

Author : Steffen Huck
Publisher :
ISBN 13 :
Total Pages : 12 pages
Book Rating : 4.:/5 (248 download)

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Book Synopsis Profitable Horizontal Mergers Without Cost Advantages by : Steffen Huck

Download or read book Profitable Horizontal Mergers Without Cost Advantages written by Steffen Huck and published by . This book was released on 2001 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Rate and Direction of Inventive Activity Revisited

Author : Josh Lerner
Publisher : University of Chicago Press
ISBN 13 : 0226473031
Total Pages : 715 pages
Book Rating : 4.2/5 (264 download)

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Book Synopsis The Rate and Direction of Inventive Activity Revisited by : Josh Lerner

Download or read book The Rate and Direction of Inventive Activity Revisited written by Josh Lerner and published by University of Chicago Press. This book was released on 2012-04-15 with total page 715 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume offers contributions to questions relating to the economics of innovation and technological change. Central to the development of new technologies are institutional environments and among the topics discussed are the roles played by universities and the ways in which the allocation of funds affects innovation.

The Impact of Horizontal Mergers on Market Structure

Author : Ralph Siebert
Publisher :
ISBN 13 :
Total Pages : 30 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis The Impact of Horizontal Mergers on Market Structure by : Ralph Siebert

Download or read book The Impact of Horizontal Mergers on Market Structure written by Ralph Siebert and published by . This book was released on 2016 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: The U.S. and EU Merger Guidelines strongly emphasize the relevance of the “ease of entry” argument in merger evaluations. Up to now, very little is known empirically about how mergers affect entry and exit, and the resulting number of firms in the markets. We empirically test this aspect of mergers using a comprehensive database that contains detailed firm-level information on mergers, production, and innovation in the dynamic random access memory semiconductor market from 1985 to 2004. Our reduced-form regression results show that mergers dominated by efficiency effects have a negative impact on the number of firms in the product market. Mergers dominated by market power effects result in a higher number of firms than efficiency dominated mergers. Interestingly, we also find that mergers foreclose potential entry in other product markets and reduce the number of firms in related product markets. Finally, our results confirm that post-merger changes in the equilibrium number of firms directly impact market prices.

Profitable Horizontal Mergers

Author : Steffen Huck
Publisher :
ISBN 13 :
Total Pages : 10 pages
Book Rating : 4.:/5 (761 download)

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Book Synopsis Profitable Horizontal Mergers by : Steffen Huck

Download or read book Profitable Horizontal Mergers written by Steffen Huck and published by . This book was released on 2000 with total page 10 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Public Interest Lawyering

Author : Alan K. Chen
Publisher : Aspen Publishing
ISBN 13 : 1454818883
Total Pages : 915 pages
Book Rating : 4.4/5 (548 download)

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Book Synopsis Public Interest Lawyering by : Alan K. Chen

Download or read book Public Interest Lawyering written by Alan K. Chen and published by Aspen Publishing. This book was released on 2014-12-09 with total page 915 pages. Available in PDF, EPUB and Kindle. Book excerpt: Public Interest Lawyering is the first comprehensive analysis of public interest lawyering that is suitable as a law school elective text and/or advanced legal profession courses and seminars. Drawing upon a range of theoretical and empirical perspectives, this timely textbook examines the lives of public interest lawyers, the clients and causes they serve, the contexts within which they work, the strategies they deploy, and the challenges they face today. Features: The first comprehensive overview of the broad range of contemporary issues faced by public interest lawyers in any American law school text. Thorough discussion of important theoretical issues about the scope and definition of public interest lawyering. Addresses American public interest law from a historical perspective with focus on current issues. Expansive examination of the settings in which public interest practice occurs, including nonprofit organizations, government agencies, and private law firms. Presents the advantages and limits of different legal strategies in public interest practice, including lobbying, public education, community organizing, and community economic development. Addresses contemporary challenges of public interest law in context, including economics and financing, legal ethics, the role of legal education, and the globalization of public interest practice. Discusses critiques of public interest law, including a reflection about the role of lawyers in social movements that addresses contemporary critiques. Ethical obligations of public interest lawyers. Explores special issues related to lawyer-client relations in social change contexts. Extensive coverage of: Models of law reform organizations. Conservative cause lawyering. Government lawyers. The economics of social change lawyering. Global social change lawyering.

Reinvigorating Horizontal Merger Enforcement

Author : Jonathan B. Baker
Publisher :
ISBN 13 :
Total Pages : 59 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Reinvigorating Horizontal Merger Enforcement by : Jonathan B. Baker

Download or read book Reinvigorating Horizontal Merger Enforcement written by Jonathan B. Baker and published by . This book was released on 2008 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: The past forty years have witnessed a remarkable transformation in horizontal merger enforcement in the United States. With no change in the underlying statute, the Clayton Act, the weight given to market concentration by the federal courts and by the federal antitrust agencies has declined dramatically. Instead, increasing weight has been given to three arguments often made by merging firms in their defense: entry, expansion and efficiencies. We document this shift and provide examples where courts have approved highly concentrating mergers based on limited evidence of entry and expansion. We show using merger enforcement data and a survey we conducted of merger practitioners that the decline in antitrust enforcement is ongoing, especially at the current Justice Department. We then argue in favor of reinvigorating horizontal merger enforcement by partially restoring the structural presumption and by requiring strong evidence to overcome the government's prima facie case. We propose several routes by which the government can establish its prima facie case, distinguishing between cases involving coordinated vs. unilateral anti-competitive effects.

The Antitrust Paradox

Author : Robert Bork
Publisher :
ISBN 13 : 9781736089712
Total Pages : 536 pages
Book Rating : 4.0/5 (897 download)

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Book Synopsis The Antitrust Paradox by : Robert Bork

Download or read book The Antitrust Paradox written by Robert Bork and published by . This book was released on 2021-02-22 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most important book on antitrust ever written. It shows how antitrust suits adversely affect the consumer by encouraging a costly form of protection for inefficient and uncompetitive small businesses.

Quantitative Techniques for Competition and Antitrust Analysis

Author : Peter Davis
Publisher : Princeton University Press
ISBN 13 : 1400831865
Total Pages : 1185 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis Quantitative Techniques for Competition and Antitrust Analysis by : Peter Davis

Download or read book Quantitative Techniques for Competition and Antitrust Analysis written by Peter Davis and published by Princeton University Press. This book was released on 2009-11-16 with total page 1185 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book combines practical guidance and theoretical background for analysts using empirical techniques in competition and antitrust investigations. Peter Davis and Eliana Garcés show how to integrate empirical methods, economic theory, and broad evidence about industry in order to provide high-quality, robust empirical work that is tailored to the nature and quality of data available and that can withstand expert and judicial scrutiny. Davis and Garcés describe the toolbox of empirical techniques currently available, explain how to establish the weight of pieces of empirical work, and make some new theoretical contributions. The book consistently evaluates empirical techniques in light of the challenge faced by competition analysts and academics--to provide evidence that can stand up to the review of experts and judges. The book's integrated approach will help analysts clarify the assumptions underlying pieces of empirical work, evaluate those assumptions in light of industry knowledge, and guide future work aimed at understanding whether the assumptions are valid. Throughout, Davis and Garcés work to expand the common ground between practitioners and academics.

Nobody's Children

Author : Elizabeth Bartholet
Publisher : Beacon Press
ISBN 13 : 9780807023198
Total Pages : 322 pages
Book Rating : 4.0/5 (231 download)

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Book Synopsis Nobody's Children by : Elizabeth Bartholet

Download or read book Nobody's Children written by Elizabeth Bartholet and published by Beacon Press. This book was released on 2000-11-17 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: Nobody's Children is an intense look at child welfare policies on abuse and neglect, foster care, and adoption. Elizabeth Bartholet, one of the nation's leading experts on family law, challenges the accepted orthodoxy that treats children as belonging to their kinship and their racial groups and that locks them into inadequate biological and foster homes. She asks us to apply the lessons learned from the battered women's movement as we look at battered children, and to question why family preservation ideology still reigns supreme when children rather than adult women are involved. Bartholet asks us to take seriously the adoption option. She calls on the entire community to take responsibility for its children, to think of the children at risk of abuse and neglect as belonging to all of us, and to ensure that "Nobody's Children" become treasured members of somebody's family.

Six Amendments

Author : Justice John Paul Stevens
Publisher : Little, Brown
ISBN 13 : 0316373745
Total Pages : 242 pages
Book Rating : 4.3/5 (163 download)

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Book Synopsis Six Amendments by : Justice John Paul Stevens

Download or read book Six Amendments written by Justice John Paul Stevens and published by Little, Brown. This book was released on 2014-04-22 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: For the first time ever, a retired Supreme Court Justice offers a manifesto on how the Constitution needs to change. By the time of his retirement in June 2010, John Paul Stevens had become the second longest serving Justice in the history of the Supreme Court. Now he draws upon his more than three decades on the Court, during which he was involved with many of the defining decisions of the modern era, to offer a book like none other. Six Amendments is an absolutely unprecedented call to arms, detailing six specific ways in which the Constitution should be amended in order to protect our democracy and the safety and wellbeing of American citizens. Written with the same precision and elegance that made Stevens's own Court opinions legendary for their clarity as well as logic, Six Amendments is a remarkable work, both because of its unprecedented nature and, in an age of partisan ferocity, its inarguable common sense.

The Opening of American Law

Author : Herbert Hovenkamp
Publisher : Oxford University Press, USA
ISBN 13 : 0199331308
Total Pages : 473 pages
Book Rating : 4.1/5 (993 download)

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Book Synopsis The Opening of American Law by : Herbert Hovenkamp

Download or read book The Opening of American Law written by Herbert Hovenkamp and published by Oxford University Press, USA. This book was released on 2015 with total page 473 pages. Available in PDF, EPUB and Kindle. Book excerpt: Two late Victorian ideas disrupted American legal thought: the Darwinian theory of evolution and marginalist economics. The legal thought that emerged can be called 'neoclassical', because it embodied ideas that were radically new while retaining many elements of what had gone before. Although Darwinian social science was developed earlier, in most legal disciplines outside of criminal law and race theory marginalist approaches came to dominate. This book carries these themes through a variety of legal subjects in both public and private law.

A Framework for the Design and Implementation of Competition Law and Policy

Author : R. S. Khemani
Publisher : World Bank Publications
ISBN 13 : 9780821342886
Total Pages : 172 pages
Book Rating : 4.3/5 (428 download)

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Book Synopsis A Framework for the Design and Implementation of Competition Law and Policy by : R. S. Khemani

Download or read book A Framework for the Design and Implementation of Competition Law and Policy written by R. S. Khemani and published by World Bank Publications. This book was released on 1999 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt: A dynamic and competitive environment, underpinned by competition law policy, is an essential characteristic of successful market economies. To satisfy the growing demand for information on current approaches and practices in competition law policy, the project "Framework for the Design and Implementation of Competition Law-Policy" was initiated by the World Bank, with participation by OECD. This ensuing volume reflects the main issues that arise in design and implementation of competition law and policy in order to assist countries in developing an approach that suits their own needs and conditions. The views articulated in this publication suggest that the administration and enforcement of competition law policy should assign the greatest importance to fostering economic efficiency and consumer welfare.