Merger Policy and Innovation: Must Enforcement Change to Account for Technological Change? / Michael L. Katz, Howard A. Shelanski.

Format:

Book

Author/Creator:

Katz, Michael L.

Contributor:

National Bureau of Economic Research.

Shelanski, Howard A.

Series:

Working Paper Series (National Bureau of Economic Research) no. w10710.

NBER working paper series no. w10710

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Other Title:

Merger Policy and Innovation

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2004.

Summary:

Merger policy is the most active area of U.S. antitrust policy. It is now widely believed that merger policy must move beyond its traditional focus on static efficiency to account for innovation and address dynamic efficiency. Innovation can fundamentally affect merger analysis in two ways. First, innovation can dramatically affect the relationship between the pre-merger marketplace and what is likely to happen if a proposed merger is consummated. Thus, innovation can fundamentally influence the appropriate analysis for addressing traditional, static efficiency concerns. Second, innovation can itself be an important dimension of market performance that is potentially affected by a merger. We explore how merger policy is meeting the challenges posed by innovation.

Notes:

Print version record

August 2004.