Recent claims of increasing economic concentration have helped make competition policy a political issue, but the cited evidence does not point to an upward trend in concentration at the market level—the level at which competition occurs. The modest upward trends in concentration observed for...

Defending a challenged merger on the basis of synergies requires an analysis of the likely pass through to consumers of associated marginal cost reductions. This paper explores the nature and extent of that pass though with differentiated consumer products. Pass-through rates are shown to depend...