Predicting the Competitive Effects of Mergers by Listening to Customers PDF Download
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Author: Kenneth Heyer
Publisher:
ISBN:
Category : Competition
Languages : en
Pages : 56
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Book Description
Author: Kenneth Heyer
Publisher:
ISBN:
Category : Competition
Languages : en
Pages : 56
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Book Description
Author: Ken Heyer
Publisher: BiblioGov
ISBN: 9781289030469
Category :
Languages : en
Pages : 42
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Book Description
This article explores the role of customers in informing competition authorities and courts about the likely effects of proposed mergers. It discusses when, and about what, customers are most likely to be valuable sources of information. It also discusses the potential limitations of customer testimony. Customer views can certainly be informative. However, they are best employed as a complement to, rather than a substitute for, economic analysis that employs more objective evidence. Although the welfare of consumers appears increasingly to have been accepted by competition authorities as the appropriate goal for merger policy, customers will not necessarily have available the information required to predict the economic consequences of a proposed merger. And even when they do, customers may be reluctant reliably and accurately to provide that information, or to express their true opinions, to investigators and before courts. Worse yet, customers may themselves stand to benefit from mergers that are anticompetitive, or may be harmed by mergers that are welfare-enhancing. Appreciating both the strengths and the limitations of customer input is critical to the cause of sound merger enforcement, not only in the U.S., but overseas as well. A growing number of countries, many of whom have less experience or expertise than do competition authorities in the U.S., have begun to adopt merger control policies themselves, and are in the process of developing and implementing investigative best practices. They, at least as much as we, can benefit from better understanding the advantages, as well as the potential pitfalls, of using the views of customers to help ensure the welfare of consumers.
Author: Ken Heyer
Publisher:
ISBN:
Category :
Languages : en
Pages : 39
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Book Description
This article explores the role of customers in informing competition authorities and courts about the likely effects of proposed mergers. It discusses when, and about what, customers are most likely to be valuable sources of information. It also discusses the potential limitations of customer testimony. Customer views can certainly be informative. However, they are best employed as a complement to, rather than a substitute for, economic analysis that employs more objective evidence. Although the welfare of consumers appears increasingly to have been accepted by competition authorities as the appropriate goal for merger policy, customers will not necessarily have available the information required to predict the economic consequences of a proposed merger. And even when they do, customers may be reluctant reliably and accurately to provide that information, or to express their true opinions, to investigators and before courts. Worse yet, customers may themselves stand to benefit from mergers that are anticompetitive, or may be harmed by mergers that are welfare-enhancing. Appreciating both the strengths and the limitations of customer input is critical to the cause of sound merger enforcement, not only in the U.S., but overseas as well. A growing number of countries, many of whom have less experience or expertise than do competition authorities in the U.S., have begun to adopt merger control policies themselves, and are in the process of developing and implementing investigative best practices. They, at least as much as we, can benefit from better understanding the advantages, as well as the potential pitfalls, of using the views of customers to help ensure the welfare of consumers.
Author:
Publisher: DIANE Publishing
ISBN: 1428958495
Category :
Languages : en
Pages : 30
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Book Description
Author: Gregory J. Werden
Publisher:
ISBN:
Category :
Languages : en
Pages : 15
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Book Description
Horizontal mergers give rise to unilateral anticompetitive effects if they cause the merged firm to act less intensely competitive than the merging firms, while non-merging rivals do not alter their competitive strategies. This chapter describes the economic theory underlying unilateral competitive effects from mergers when prices are set through an auction or bargaining process. In the auction context, this chapter also describes the quantitative application of this theory in predicting the unilateral price effects of proposed mergers.
Author:
Publisher:
ISBN:
Category : Energy policy
Languages : en
Pages : 776
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Book Description
Author: Malcolm B. Coate
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Merger analysis is a field in which economic theory is systematically applied, day-in, day-out. Economics structures the definition of the relevant market, and then economics drives the evaluation of the likely competitive effect of the merger. Exactly which models appear to be used by Federal Trade Commission staff would be of great interest to the stake-holder community, as would any details on how the models are applied. This paper provides this information with an in-depth study of the merger review process focused on 124 single market horizontal mergers evaluated between FY 1993 and 2003. Five different market models are identified with a homogenous goods analysis (two choices) useful in about one-third of the cases and a differentiated goods analysis (three choices) relevant for the others. Within the relevant markets, unilateral effects analysis was used in slightly more than half of the cases and coordinated interaction theories in just less than half. The unilateral analyses generally applied a head-to-head model of competition, while the coordinated interaction cases utilized three different models of collusion. The outcomes of the Guidelines-based theories are then matched with other evidence of the likely competitive effect. Evidence contained in hot documents, validated customer concerns and event studies appear to play an important role in confirming Guidelines-based theoretical predictions for the competitive effect of a proposed merger.
Author: Kalpana Tyagi
Publisher: Springer
ISBN: 366258784X
Category : Law
Languages : en
Pages : 341
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Book Description
This book addresses the question of how competition authorities assess mergers in the Information Communication Technology (ICT) sector so as to promote competition in innovation. A closer look at the question reveals that it is far more complex and difficult to answer for the ICT, telecommunications and multi-sided platform (MSP) economy than for more traditional sectors of the economy. This has led many scholars to re-think and question whether the current merger control framework is suitable for the ICT sector, which is often also referred to as the new economy. The book pursues an interdisciplinary approach combining insights from law, economics and corporate strategy. Further, it has a comparative dimension, as it discusses the practices of the US, the EU and, wherever relevant, of other competition authorities from around the globe. Considering that the research was conducted in the EU, the practices of the European Commission remain a key aspect of the content.Considering its normative dimension, the book concentrates on the substantive aspects of merger control. To facilitate a better understanding of the most important points, the book also offers a brief overview of the procedural aspects of merger control in the EU, the US and the UK, and discusses recent amendments to Austrian and German law regarding the notification threshold. Given its scope, the book offers an invaluable guide for competition law scholars, practitioners in the field, and competition authorities worldwide.
Author: United States. Congress. House. Committee on Small Business
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 96
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Book Description
Author: Barry E. Hawk
Publisher: Juris Publishing, Inc.
ISBN: 1578232538
Category : Antitrust law
Languages : en
Pages : 746
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Book Description
Every October the Fordham Competition Law Institute brings together leading figures from governmental organizations, leading international law firms and corporations and academia to examine and analyze the most important issues in international antitrust and trade policy of the United States, the EU and the world. This work is the most definitive and comprehensive annual analysis of international antitrust law and policy available anywhere. Each annual edition sets out to explore and analyze the areas of antitrust/competition law that have had the most impact in that year. Recent "hot topics" include antitrust enforcement in Asia, Latin America: competition enforcement in the areas of telecommunications, media and information technology. All of the chapters raise questions of policy or discuss new developments and assess their significance and impact on antitrust and trade policy. The chapters are revised and updated before publication when necessary. As a result, the reader receives up-to-date practical tips and important analyses of difficult policy issues. The annual volumes are an indispensable guide through the sea of international antitrust law. The Fordham Competition Law Proceedings are acknowledged as simply the most definitive US/EC annual analyses of antitrust/competition law published.
