Revising the Horizontal Merger Guidelines: Lessons from the E.U. and the U.S.
University of California, Berkeley - Department of Economics
Daniel L. Rubinfeld
University of California at Berkeley - School of Law; National Bureau of Economic Research (NBER); NYU Law School
COMPETITION POLICY AND REGULATIONS: RECENT DEVELOPMENTS IN CHINA, EUROPE AND THE US, M. Faure and X. Zhang, eds., Edward Elgar, Forthcoming
UC Berkeley Public Law Research Paper No. 1660638
Recently, the U.S. Department of Justice and Federal Trade Commission have embarked on an effort to revise and update the U.S. Horizontal Merger Guidelines. here is substantial overlap between the U.S. and E.U. Guidelines, which makes a proposal for U.S. revisions immediately applicable to the E.U. and elsewhere. The U.S. Merger Guidelines can be revised in light of the learning of economists and lawyers in the past two decades to emphasize the importance of competitive effects analysis in merger evaluation and the forces that drive innovation. The Guidelines should also note that once a competitive effects analysis has been completed, it is possible to “back out” a relevant market (or markets) that is consistent with that competitive effects analysis.
Number of Pages in PDF File: 21
Keywords: Mergers, Guidelines
JEL Classification: L10, L40
Date posted: August 19, 2010