Demand Side Merger Efficiencies PDF Download
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Author: David Reitman
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Mergers can generate demand side efficiencies that benefit customers in a number of ways, including procurement savings, transaction efficiencies, and quality improvements. We show that per-unit demand side efficiencies and marginal cost efficiencies of the same magnitude have an equivalent impact on the post-merger market in terms of output and welfare. Consequently, there is no reason to distinguish between marginal cost savings and demand side per-unit efficiencies when evaluating the impact of a merger. We demonstrate how various techniques for evaluating the impact of mergers - compensating marginal cost reductions, upward pricing pressure, and merger simulation - can be readily adapted to incorporate demand side as well as supply side efficiencies.
Author: David Reitman
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Mergers can generate demand side efficiencies that benefit customers in a number of ways, including procurement savings, transaction efficiencies, and quality improvements. We show that per-unit demand side efficiencies and marginal cost efficiencies of the same magnitude have an equivalent impact on the post-merger market in terms of output and welfare. Consequently, there is no reason to distinguish between marginal cost savings and demand side per-unit efficiencies when evaluating the impact of a merger. We demonstrate how various techniques for evaluating the impact of mergers - compensating marginal cost reductions, upward pricing pressure, and merger simulation - can be readily adapted to incorporate demand side as well as supply side efficiencies.
Author: Jorge Padilla
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Firms may be able to create new and improved products as a result of merging. These "demand-side efficiencies" should be considered by competition authorities in considering whether to allow a merger. Unlike reductions in costs that merged firms may not pass on to consumers, new and better products necessarily make consumers better off. Moreover, the value of demand-side efficiencies can be quite large, as recent studies of improved products ranging from toilet paper to minivans has demonstrated. Of course, competition authorities should seek evidence that mergers will facilitate new and improved products and weigh these benefits against increased prices and other costs the merger may create. A review of European Union merger cases shows that the Commission needs to consider demand-side efficiencies, and provides further caution against making efficiencies an "offence" rather than a "defence."
Author: Daniel Gore
Publisher: Cambridge University Press
ISBN: 1107007720
Category : Business & Economics
Languages : en
Pages : 559
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Book Description
Provides a clear, concise and practical overview of the key economic techniques and evidence employed in European merger control.
Author: Gregory Werden
Publisher:
ISBN:
Category : Antitrust law
Languages : en
Pages : 66
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Book Description
Author: Jonathan Galloway
Publisher: Routledge
ISBN: 1351918079
Category : Law
Languages : en
Pages : 918
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Book Description
Mergers and acquisitions occur for many legitimate reasons and should be encouraged as a matter of general policy, yet the resulting increase in the level of market concentration and market strength can lead to concerns that certain ’deals’ may irreparably damage the market structure and create anti-competitive effects. This volume explores the competition concerns arising out of mergers and acquisitions, the reasons for merger control and the fundamental options that face all jurisdictions intent on implementing an effective merger control regime. The volume acts as a guide through the development of merger control law, policy and scholarly thought and includes commentary on each of the key stages of any effective merger control regime. The articles consider the objectives of merger control and the broader political landscape within which mergers take place; the procedural issues in merger control, including jurisdictional matters and due process; the different substantive legal standards incorporated into merger control; the relevant theories of harm and the appropriate treatment of efficiencies; and the use of remedies in merger control. The chosen articles mainly, but not exclusively, focus on the US and EU, and several adopt a cross-disciplinary approach encompassing law, political science and economics.
Author: Robert Pitofsky
Publisher: Oxford University Press
ISBN: 0199706751
Category : Law
Languages : en
Pages : 324
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Book Description
How the Chicago School Overshot the Mark is about the rise and recent fall of American antitrust. It is a collection of 15 essays, almost all expressing a deep concern that conservative economic analysis is leading judges and enforcement officials toward an approach that will ultimately harm consumer welfare. For the past 40 years or so, U.S. antitrust has been dominated intellectually by an unusually conservative style of economic analysis. Its advocates, often referred to as "The Chicago School," argue that the free market (better than any unelected band of regulators) can do a better job of achieving efficiency and encouraging innovation than intrusive regulation. The cutting edge of Chicago School doctrine originated in academia and was popularized in books by brilliant and innovative law professors like Robert Bork and Richard Posner. Oddly, a response to that kind of conservative doctrine may be put together through collections of scores of articles but until now cannot be found in any one book. This collection of essays is designed in part to remedy that situation. The chapters in this book were written by academics, former law enforcers, private sector defense lawyers, Republicans and Democrats, representatives of the left, right and center. Virtually all agree that antitrust enforcement today is better as a result of conservative analysis, but virtually all also agree that there have been examples of extreme interpretations and misinterpretations of conservative economic theory that have led American antitrust in the wrong direction. The problem is not with conservative economic analysis but with those portions of that analysis that have "overshot the mark" producing an enforcement approach that is exceptionally generous to the private sector. If the scores of practices that traditionally have been regarded as anticompetitive are ignored, or not subjected to vigorous enforcement, prices will be higher, quality of products lower, and innovation diminished. In the end consumers will pay.
Author: Ioannis Kokkoris
Publisher: Edward Elgar Publishing
ISBN: 180037819X
Category : Law
Languages : en
Pages : 685
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Book Description
Over the past 30 years, merger control has become well-established around the world with broad consensus around its ambit and objectives. That consensus has fractured in recent years. Enforcement today is at a critical juncture, facing an array of challenges and calls for reform unprecedented in their scope and intensity. Authored by leading legal practitioners, economists, enforcers and jurists, this timely Research Handbook on Global Merger Control discusses those challenges and predicts how merger control is likely to evolve.
Author: Annabelle Gawer
Publisher: Edward Elgar Publishing
ISBN: 1849803315
Category : Business & Economics
Languages : en
Pages : 413
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Book Description
In her pioneering book Platform Leadership (with Michael Cusumano), Gawer gave us the strategy of building coalitions of customers, suppliers, and complementors. Now, she brings together a number of the leading researchers in the area of platform strategy to give us a book that will be a key reference for both practitioners and academics. Adam Brandenburger, New York University, US Annabelle Gawer s collected volume of research shows that a vibrant community of scholars has arisen around platforms and innovation. Each of the chapters is first rate, with top researchers offering some of their latest work. This will be an indispensable book for students of innovation and technology management everywhere. Henry Chesbrough, University of California, Berkeley, US Annabelle Gawer s Platforms, Markets and Innovation is the first serious exploration of the critical but subtle role that platforms play in business, society and our personal lives. As digital technologies penetrate every nook and cranny of the world around us, we rely on platforms to both help us use the new technologies, as well as to organize new markets of innovation that add applications on top of the platforms and make them far more valuable. Dr Gawer s excellent book is designed to help us understand the mysterious nature of platforms. It brings together the insights of twenty-four experts around the world who contributed to the fourteen chapters of the book. Dr Gawer s book is invaluable to anyone trying to understand the nuanced nature of platforms, and their implications for the evolution of innovation in the 21st century. Irving Wladawsky-Berger, IBM Academy of Technology, US The emergence of platforms is a novel phenomenon impacting most industries, from products to services. Industry platforms such as Microsoft Windows or Google, embedded within industrial ecosystems, have redesigned our industrial landscapes, upset the balance of power between firms, fostered innovation and raised new questions on competition and innovation. Annabelle Gawer presents cutting-edge contributions from 24 top international scholars from 19 universities across Europe, the USA and Asia, from the disciplines of strategy, economics, innovation, organization studies and knowledge management. The novel insights assembled in this volume constitute a fundamental step towards an empirically based, nuanced understanding of the nature of platforms and the implications they hold for the evolution of industrial innovation. The book provides an overview of platforms and discusses governance, management, design and knowledge issues. With a multidisciplinary approach, this book will strongly appeal to academics and advanced students in management, innovation, strategy, economics and design. It will also prove an enlightening read for business managers in IT industries.
Author: Dennis W. Carlton
Publisher: Addison Wesley
ISBN:
Category : Business & Economics
Languages : en
Pages : 808
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Book Description
This text offers modern coverage of modern industrial organizations, including strategic behaviour and game theory. It uses a unified structure to analyse theories and empirical evidence about the organization of firms and indutries.
Author: Kai Hüschelrath
Publisher: Springer Science & Business Media
ISBN: 3790820903
Category : Political Science
Languages : en
Pages : 532
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Book Description
Competition policy is an integral and prominent part of economic policy-making in the European Union. The EU Treaty prescribes its member states to conduct economic policy ‘in accordance with the principle of an open market economy with free competition’. More precisely, the goal of EU competition policy is “to defend and develop effective competition in the common market” (European Commission, 2000: 7). Under its Commissioners van Miert, Monti and, most - cently, Kroes the EU Commission has stepped up its effort to pursue and achieve the aforementioned goal. A number of so-called hard-core cartels, such as the - torious “vitamin cartel” led by Roche, have been detected, tried in violation of Art. 81 of the Maastricht Accord and punished with severe fines. Also Microsoft was hit hard by the strong hand of the Commission having been severely fined for - ploiting a dominant market position. Economic analysis has been playing an increasingly significant role in the Commission’s examination of competition law cases. This holds true in particular for merger control. Here, however, the Commission has had to accept some poi- ant defeats in court, such as the Court’s reversals of Airtours-First Choice or GE- Honeywell. Among other things, the European Court of Justice found the e- nomic analysis as conducted by the EU’s Directorate General for Competition to be flawed and the conclusions drawn not to be convincing. These rejections by the courts have stirred up the scholarly debate on the conceptual foundations of Eu- pean competition policy.
