Abstract

http://ssrn.com/abstract=1175522
 
 

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Some Dynamics of High-Tech Merger Analysis in General and with Respect to XM-Sirius


Thomas W. Hazlett


George Mason University Dept. of Economics and School of Law

July 24, 2008

George Mason Law & Economics Research Paper No. 08-45
Journal of Competition Law and Economics, Forthcoming

Abstract:     
Horizontal merger evaluation is heavily reliant on market definition. While a SSNIP framework formats the analysis, demand elasticity evidence used to apply the test is often sparse, as is often found in high-technology industries. This paper examines other sources of evidence that reveal the dynamics of market structure, data that are also probative in the evaluation of competitive effects. These sources include capital valuations of firms, financial event studies, and the public positions taken with respect to the merger by interested parties. Such evidence is examined in the XM-Sirius merger (2007-08), and shown - in two of the three instances - to be relatively informative in merger welfare analysis.

Number of Pages in PDF File: 21

Keywords: critical loss analysis, FCC, horizontal merger evaluation, NAB, SDARS, Sirius, XM, SSNIP test

JEL Classification: K21, L41, L82

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Date posted: July 31, 2008  

Suggested Citation

Hazlett, Thomas W., Some Dynamics of High-Tech Merger Analysis in General and with Respect to XM-Sirius (July 24, 2008). George Mason Law & Economics Research Paper No. 08-45; Journal of Competition Law and Economics, Forthcoming. Available at SSRN: http://ssrn.com/abstract=1175522

Contact Information

Thomas W. Hazlett (Contact Author)
George Mason University Dept. of Economics and School of Law ( email )
George Mason School of Law
3301 Fairfax Drive
Arlington, VA 22201
United States
703-993-4244 (Phone)
HOME PAGE: http://mason.gmu.edu/~thazlett/

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