Mergers with Differentiated Products: Where Do We Stand?

Review of Industrial Organization, Vol. 58, No. 1, pp. 179-212, 2021

44 Pages Posted: 28 Sep 2020 Last revised: 17 Feb 2021

See all articles by Tommaso M. Valletti

Tommaso M. Valletti

Imperial College Business School; Centre for Economic Policy Research (CEPR)

Hans Zenger

European Union - Directorate General for Competition

Multiple version iconThere are 2 versions of this paper

Date Written: December 20, 2020

Abstract

On the occasion of the 10th anniversary of the 2010 U.S. Horizontal Merger Guidelines, this article provides an overview of the state of economic analysis of unilateral effects in mergers with differentiated products. Drawing on our experience with merger enforcement in Europe, we discuss both static and dynamic competition, with a special emphasis on the calibration of competitive effects. We also discuss the role of market shares and structural presumptions in differentiated product markets.

Keywords: Mergers, Unilateral Effects, Differentiated Products

JEL Classification: L11, L13, L40, L41

Suggested Citation

Valletti, Tommaso M. and Zenger, Hans, Mergers with Differentiated Products: Where Do We Stand? (December 20, 2020). Review of Industrial Organization, Vol. 58, No. 1, pp. 179-212, 2021, Available at SSRN: https://ssrn.com/abstract=3653040 or http://dx.doi.org/10.2139/ssrn.3653040

Tommaso M. Valletti

Imperial College Business School ( email )

South Kensington Campus
Exhibition Road
London SW7 2AZ, SW7 2AZ
United Kingdom

Centre for Economic Policy Research (CEPR)

London
United Kingdom

Hans Zenger (Contact Author)

European Union - Directorate General for Competition ( email )

Place Madou, Madouplein 1
Saint-Josse-ten-Noode/Sint-Joost-ten-Noode
Brussels, B-1049
Belgium

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