We study optimal merger policy in a dynamic model in which the presence of scale economies implies that firms can reduce costs through either internal investment in building capital or through mergers. The model, which we solve computationally, allows firms to invest or propose mergers according...

In The Antitrust Paradox, Robert Bork viewed most mergers as either competitively neutral or efficiency enhancing. In his view, only mergers creating a dominant firm or monopoly were likely to harm consumers. Bork was especially skeptical of oligopoly concerns resulting from mergers. In this...

Fusionen stellen einen zentralen Baustein der Industrieökonomik dar. In diesem Buch wird der Frage nachgegangen, welchen Einfluss die räumliche Dimension auf eine Fusion ausübt. Dabei wird ein Grundmodell entwickelt und über dieses hinaus eine Vielzahl Erweiterungen präsentiert. Der Leser...

Although the Department of Justice and the Federal Trade Commission (FTC) review proposed mergers, in mergers involving communications businesses the Federal Communications Commission (FCC) decides whether it would serve the public interest for the acquired firm to transfer its operating...

In The Antitrust Paradox, Robert Bork viewed most mergers as either competitively neutral or efficiency enhancing. In his view, only mergers creating a dominant firm or monopoly were likely to harm consumers. Bork was especially skeptical of oligopoly concerns resulting from mergers. In this...

The Cellophane Fallacy is a very familiar topic in antitrust literature. The expression comes from the famous antitrust case of the 50's when the United States Supreme Court made an overly broad definition of the relevant market, thereby failing to detect the market power of du Pont, which held...

With the Merger Policy Statement from the Federal Energy Regulatory Commission, the last obstacle to movement toward deregulation in the electric utility industry, which began as far back as 1973, seemed to dissolve. Following the pattern from other regulated industries such as airlines,...