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Author: Kenneth Heyer
Publisher: BiblioGov
ISBN: 9781289110765
Category :
Languages : en
Pages : 30
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Book Description
Over the past several decades, there has emerged a rough consensus among professional antitrust practitioners, and within the law and economics community generally, that the "competition" referred to in our antitrust statutes is not to be interpreted simply as pre-merger rivalry among entities. Rather, it is best viewed as a process, the outcome of which is welfare, with welfare-not "rivalry"--being the object of interest. Consistent with this interpretation, scholars, competition authorities, and the courts have come to treat antitrust law as condemning only those mergers whose effect may be substantially to reduce welfare.
Author: Ken Heyer
Publisher:
ISBN:
Category : Antitrust law
Languages : en
Pages : 44
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Book Description
Author: Kenneth Heyer
Publisher: BiblioGov
ISBN: 9781289110765
Category :
Languages : en
Pages : 30
Get Book Here
Book Description
Over the past several decades, there has emerged a rough consensus among professional antitrust practitioners, and within the law and economics community generally, that the "competition" referred to in our antitrust statutes is not to be interpreted simply as pre-merger rivalry among entities. Rather, it is best viewed as a process, the outcome of which is welfare, with welfare-not "rivalry"--being the object of interest. Consistent with this interpretation, scholars, competition authorities, and the courts have come to treat antitrust law as condemning only those mergers whose effect may be substantially to reduce welfare.
Author: Ken Heyer
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: Lauren Sillman
Publisher:
ISBN:
Category :
Languages : en
Pages : 41
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Book Description
This paper discusses the problem of buyer power in labor markets and proposes a framework for more interventionist enforcement under existing merger law. While a common core of basic economic assumptions supports increased enforcement as a general matter, the choice among several available economic welfare standards has significant implications for merger enforcement outcomes in certain types of cases. This paper considers economic standards based on total welfare, on customer welfare, and on trading partner welfare and concludes that a trading partner welfare standard should be adopted. However, in cases where a merger is likely to result in significant efficiencies that will decrease prices for customers, customer impacts should be considered when crafting a remedy, and if the efficiencies produced by a merger are inextricably linked to and substantially exceed the harms from increased labor market power, agencies should exercise their prosecutorial discretion to allow the merger to go ahead. On the basis of these principles, the paper then develops a framework for analysis that builds off of the existing processes and techniques described in the 2010 Horizontal Merger Guidelines. This framework is designed to be a practical, principled approach that benefits both customers and workers.
Author: Kenneth Heyer
Publisher:
ISBN:
Category : Competition
Languages : en
Pages : 56
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Book Description
Author: Robert Bork
Publisher:
ISBN: 9781736089712
Category :
Languages : en
Pages : 536
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Book Description
The most important book on antitrust ever written. It shows how antitrust suits adversely affect the consumer by encouraging a costly form of protection for inefficient and uncompetitive small businesses.
Author: Damien J. Neven
Publisher:
ISBN:
Category : Antitrust law
Languages : en
Pages : 44
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Book Description
Author: An Renckens
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
For several years already, the efficiency defense (and its incorporation in the law) has been a much debated issue in merger policy. When discussing the introduction of an efficiency defense in merger control, it is important to define clearly its content and interpretation. However, different approaches to the concept of efficiency defense exist in the literature, and it is not always clear which jurisdictions apply an efficiency defense. Therefore, to improve communication and comparison between jurisdictions, it would be useful to reach agreement on the exact content of an efficiency defense. This paper proposes to define the efficiency defense along two dimensions: a conceptual one-related to the welfare standard-and a procedural one-related to the application of the substantive test. The main conclusion of this paper is that the concept of efficiency defense can only be appropriately applied under a total welfare standard and if efficiencies can be directly balanced against the anticompetitive effects of mergers on a case-by-case basis. Using this definition, only in Canada and Australia (formal review process) would an efficiency defense exist.
Author: Russell Pittman
Publisher: BiblioGov
ISBN: 9781289008505
Category :
Languages : en
Pages : 22
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Book Description
In antitrust enforcement as in cost-benefit analysis, neoclassical economics may be interpreted as arguing for the use of a "total welfare" standard whose implementation treats transfers as welfare-neutral. Several recent papers call for antitrust agencies to move in the direction of this version of a total welfare standard for enforcement. However, as Williamson (1968) noted, horizontal mergers typically result in transfers that may greatly exceed in magnitude any deadweight loss or efficiency gain, so that a decision to ignore transfers may be quite important. I argue that such transfers are likely overall to be quite regressive, and thus that a consumer surplus standard rather than a total welfare standard may be appropriate for antitrust. Two common arguments against this standard a " that most mergers are in markets for intermediate goods, and that a consumer welfare standard implies a tolerance for monopsony a " are examined and found wanting. I argue in addition that, even if a total welfare standard is used, both the finance literature on merger outcomes and the structure of the U.S. enforcement agencies suggest that the use of a consumer surplus standard by the agencies is more likely to achieve that goal.
Author: Thomas V. Vakerics
Publisher: Law Journal Seminars Press
ISBN: 9781588520326
Category : Law
Languages : en
Pages : 1200
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Book Description
This book anticipates virtually every antitrust issue you can expect to face, including: horizontal and vertical restraints; joint ventures; private treble damage actions; price fixing; and more.
