In May 2007 the Federal Trade Commission failed to win a preliminary injunction in U.S. District Court that would have blocked the merger of two refiners that served Albuquerque, NM and surrounding areas. This study compares estimates of the post-merger price effect to the price effects...

Merging firms regularly argue that mergers involving capacity-constrained firms are unlikelyto be anticompetitive, because a capacity-constrained firm does not represent a meaningful competitive constraint on its rivals. We construct a modified notion of upward pricing pressure called ccGUPPI,...

Introduction -- Mergers and merger policy in the U.S. : an overview -- Evaluating merger outcomes -- Guide to merger analysis using difference-in-differences (Daniel Greenfield) -- Merger retrospectives : two studies -- Mergers and product prices -- Merger policy and remedies -- Retrospective...

Contents -- Preface -- 1 Introduction -- 2 Mergers and Merger Policy in the United States: An Overview -- 3 Evaluating Merger Outcomes -- 4 Guide to Merger Analysis Using Difference in Differences -- 5 Merger Retrospectives: Two Studies -- 6 Mergers and Product Prices -- 7 Merger Policy and...

This paper generalizes the critical loss concept of Harris and Simons to account for a broader range of possible cost structures. Our focus on understanding the market level equilibrium for relatively homogenous goods makes it clear that the Harris and Simons procedure is appropriate in some...