This article presents an economic model of judicial settlement in an asymmetric information setting to analyze the merger settlement between merging firms and a competition authority. The model analyzes how the competition authority may use the settlement process to screen out efficient mergers...

The introduction of the new Greek Competition Act (L. 3959/2011) sets out strict deadlines as to the approval or prohibition of notified concentrations. The aim of this paper is to elaborate the main principles covering Merger Law as applicable in Greece and to provide statistical evidences of...

Inclusion of an efficiency defense brings about an asymmetric information problem between an antitrust agency and merging firms concerning efficiencies due to mergers. Effort level and merger type determine the probability of producing the evidence that efficiencies satisfy a consumer welfare...

To prevent possible abuse of market power in the future an antitrust agency can force merging firms to divest some of their assets. The divested assets can be sold via auction either to existing competitors or to a new entrant. Divesture of assets extends the range of parameters when a merger...

The 2002 amendment of the Cartel and Competition Act introduced a fundamental change in the institutional landscape of Austrian competition policy. Apart from reorganising the institutional level, it will, however, be necessary to overhaul the contents side as well. The fundamentals of a...