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Why Markets Matter for Evidence-Based Merger Analysis

Oxera Agenda, January 2010

13 Pages Posted: 3 Mar 2010  

Malcolm B. Coate

U.S. Federal Trade Commission (FTC)

Jeffrey H. Fischer

U.S. Federal Trade Commission (FTC)

Date Written: January 12, 2010

Abstract

While the Merger Guidelines structure represents the standard approach to merger analysis in the US, economists have proposed methods to dispense with market definition and estimate the competitive effect directly. In this note, we argue that market definition is necessary to evaluate the assumptions of any merger analysis and thus, cannot be dispensed with. Moreover, we suggest that market definition plays an important role in the stakeholders’ merger guidance process, the regulator’s merger screening process, and the court’s merger decision process.

Keywords: antitrust, market definition, mergers,

JEL Classification: K21, L40

Suggested Citation

Coate, Malcolm B. and Fischer, Jeffrey H., Why Markets Matter for Evidence-Based Merger Analysis (January 12, 2010). Oxera Agenda, January 2010. Available at SSRN: https://ssrn.com/abstract=1562010

Malcolm B. Coate (Contact Author)

U.S. Federal Trade Commission (FTC) ( email )

601 Pennsylvania Avenue, NW
Washington, DC 20580
United States

Jeffrey H. Fischer

U.S. Federal Trade Commission (FTC) ( email )

600 Pennsylvania Ave., NW
Washington, DC 20580
United States
202-326-2656 (Phone)
202-326-2625 (Fax)

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