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Author : Avi Weiss
Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.:/5 (641 download)
Download or read book Using the Efficiencies Defense in Horizontal Mergers written by Avi Weiss and published by . This book was released on 1989 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Robert E. DeYoung
Publisher :
ISBN 13 :
Total Pages : 526 pages
Book Rating : 4.:/5 (89 download)
Download or read book The Efficiencies Defense in Merger Antitrust written by Robert E. DeYoung and published by . This book was released on 1989 with total page 526 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Luis M. B. Cabral
Publisher :
ISBN 13 :
Total Pages : 13 pages
Book Rating : 4.:/5 (129 download)
Download or read book Horizontal Mergers with Free-Entry written by Luis M. B. Cabral and published by . This book was released on 2008 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: I analyze the effects of a merger between two firms in a spatially differentiatedoligopoly. I make the crucial assumption that the industry is at a free-entry equilibriumboth before and after the merger. In particular, I allow for the possibility of entry subsequent to the merger. Not surprisingly, this possibility improves the effect of the merger on consumer welfare. More importantly, I show that post-merger entry dramatically shifts the perspective on cost efficiencies as a merger defense and asset sales as a remedy. Cost efficiencies (in the form of lower marginal cost) decreasethe likelihood of entry, and thus benefit consumers less than if entry conditions wereexogenously given. Likewise, by selling assets (stores) to potential rivals, merging firms effectively buy them oreg;,quot; that is, dissuade them from opening new stores, an effect that is detrimental to consumers.
Author : Alan A. Fisher
Publisher :
ISBN 13 :
Total Pages : 182 pages
Book Rating : 4.A/5 ( download)
Download or read book Efficiency Considerations in Merger Enforcement written by Alan A. Fisher and published by . This book was released on 1981 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Veronika Minkova
Publisher : GRIN Verlag
ISBN 13 : 3656016674
Total Pages : 29 pages
Book Rating : 4.6/5 (56 download)
Download or read book Critically Assess the Role of Efficiencies in Merger Assessment written by Veronika Minkova and published by GRIN Verlag. This book was released on 2011-12 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essay from the year 2011 in the subject Law - Civil / Private / Trade / Anti Trust Law / Business Law, grade: 1,3, University of Reading, course: European Competition Law, language: English, abstract: The first section of the present essay discusses historically the European Commission's approach towards efficiencies. The second section elaborates on the choice of welfare standards and explains the European approach of adopting the consumer welfare standard. The third section outlines types of efficiencies according to the economic literature. The fourth section discusses the three cumulative conditions of the European Commission in order to consider efficiency claims. The next section reveals the Commission decisional practice in cases of efficiency claims and analyses its development. In the last chapter more attention is paid to theory and practice of efficiencies in cases of non-horizontal mergers.
Author : Nancy L. Rose
Publisher :
ISBN 13 :
Total Pages : 54 pages
Book Rating : 4.:/5 (129 download)
Download or read book The Dichotomous Treatment of Efficiencies in Horizontal Mergers written by Nancy L. Rose and published by . This book was released on 2020 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: The extent to which horizontal mergers deliver competitive benefits that offset any potential for competitive harm is a critical issue of antitrust enforcement. This Article evaluates economic analyses of merger efficiencies and concludes that a substantial body of work casts doubt on their presumptive existence and magnitude. That has two significant implications. First, the current methods used by the federal antitrust agencies to determine whether to investigate a horizontal merger likely rests on an overly-optimistic view of the likely existence of cognizable efficiencies, which we label a “standard efficiency credit” that influences market concentration analysis. Second, criticisms of the current treatment of efficiencies as too demanding - for example, that antitrust agencies and reviewing courts require too much of merging parties in demonstrating the existence of efficiencies - are misplaced, in part because they fail to recognize that full-blown merger investigations and subsequent litigation are focused on the mergers that are most likely to cause harm.
Author :
Publisher :
ISBN 13 :
Total Pages : 218 pages
Book Rating : 4.:/5 (8 download)
Download or read book The Efficiency Defence and the European System of Merger Control written by and published by . This book was released on 2002 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Daniel Gore
Publisher : Cambridge University Press
ISBN 13 : 1107007720
Total Pages : 559 pages
Book Rating : 4.1/5 (7 download)
Download or read book The Economic Assessment of Mergers Under European Competition Law written by Daniel Gore and published by Cambridge University Press. This book was released on 2013-04-25 with total page 559 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides a clear, concise and practical overview of the key economic techniques and evidence employed in European merger control.
Author : Mark N. Berry
Publisher :
ISBN 13 :
Total Pages : 142 pages
Book Rating : 4.:/5 (37 download)
Download or read book Efficiencies and Horizontal Mergers written by Mark N. Berry and published by . This book was released on 1994 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Robert Pitofsky
Publisher : Oxford University Press
ISBN 13 : 0199706751
Total Pages : 324 pages
Book Rating : 4.1/5 (997 download)
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.
Author : S.P. Kamerbeek
Publisher :
ISBN 13 : 9789052131870
Total Pages : 55 pages
Book Rating : 4.1/5 (318 download)
Download or read book Merger Performance and Efficiencies in Horizontal Merger Policy in the US and the EU written by S.P. Kamerbeek and published by . This book was released on 2010 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jonathan B. Baker
Publisher :
ISBN 13 :
Total Pages : 59 pages
Book Rating : 4.:/5 (129 download)
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.
Author : Maarten Pieter Schinkel
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Quantifying the Scope for Efficiency Defense in Merger Control written by Maarten Pieter Schinkel and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In both US and EU merger control, merger-specific efficiencies are recognized as a possible defense for horizontal mergers that raise competition concerns. We introduce the Werden-Froeb-index (WFI) to assist in evaluating these efficiencies. The index measures the weighted average reduction in marginal costs required to restore pre-merger equilibrium prices and quantities after the (full or partial) merger is consummated. The WFI is well-defined, objective and robust, and has relatively low information requirements. We propose to use the index as a natural complement to concentration measures (such as the Hirschmann-Herfindahl-index) in the assessment of horizontal mergers.
Author : M.B. Coate
Publisher : Springer Science & Business Media
ISBN 13 : 146131397X
Total Pages : 265 pages
Book Rating : 4.4/5 (613 download)
Download or read book The Economics of the Antitrust Process written by M.B. Coate and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on the antitrust process and how that process affects the efficiency of antitrust law enforcement. The contributors share a wide range of experiences in the antitrust process, including academia, the legal environment, and both private and public sectors. The book deals first with merger activities, followed by non-merger enforcement initiatives and concludes with an examination of the future role of antitrust.
Author : American Bar Association. Section of Antitrust Law
Publisher : American Bar Association
ISBN 13 :
Total Pages : 792 pages
Book Rating : 4.F/5 ( download)
Download or read book Mergers and Acquisitions written by American Bar Association. Section of Antitrust Law and published by American Bar Association. This book was released on 2000 with total page 792 pages. Available in PDF, EPUB and Kindle. Book excerpt: This valuable source guides you through the substantive analysis applied to transactions, including market definition and measurement; potential mitigating factors, efficiencies, and defenses, and more.
Author : Yanna Wu
Publisher :
ISBN 13 :
Total Pages : 298 pages
Book Rating : 4.:/5 (566 download)
Download or read book Horizontal Mergers, Efficiency and Capacity Utilization written by Yanna Wu and published by . This book was released on 2004 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Duarte Brito
Publisher : Kluwer Law International B.V.
ISBN 13 : 9041124519
Total Pages : 248 pages
Book Rating : 4.0/5 (411 download)
Download or read book Mergers and Acquisitions written by Duarte Brito and published by Kluwer Law International B.V.. This book was released on 2006-01-01 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing on twenty years of merger analysis literature, this single source offers practical solutions to a wide range of problems faced by specialists working in the field of mergers and acquisitions. The authors take an industrial organization approach in which effects on profits, on consumer surplus and on overall welfare are of greatest relevance. The focus is primarily on horizontal mergers, although vertical and conglomerate mergers are addressed when producers of complementary goods are involved. Among the issues and elements examined, the authors provide answers to the following: How does a merger affect the insider firm's profitabifity? Why may outsiders stock market value increase or decrease following a merger? What are the expected welfare effects of a merger? What sort of arguments can be used for merger defense? How do economists model the firm's merging decision? How can the authorities simulate the price effects of a horizontal merger? Is post-merger entry likely to compensate the effects of a merger? The discussion proceeds from an analysis of the simplest exercise of market power to evermore complex merger environments. In their detailed coverage of policy evaluation of proposed acquisitions, the authors provide a merger simulation toolkit which can be applied to important recent judicial decisions in the field. This book will be of great value not only to academics in microeconomics and industrial organization, but also to lawyers and officials seeking expert practical guidance in the business or administrative responsibilities surrounding mergers and acquisitions.
