Revising the Horizontal Merger Guidelines: Lessons from the E.U. and the U.S.
COMPETITION POLICY AND REGULATIONS: RECENT DEVELOPMENTS IN CHINA, EUROPE AND THE US, M. Faure and X. Zhang, eds., Edward Elgar, Forthcoming
21 Pages Posted: 19 Aug 2010
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.
Keywords: Mergers, Guidelines
JEL Classification: L10, L40
Suggested Citation: Suggested Citation