Recent 'open-economy industrial organization' literature finds export orientation enhances the weight of post-merger international competitive gains, favouring lenient domestic merger policy. However, mergers seldom generate the 'significant synergies' supportive of international competitive...

This paper analyzes single-till and dual-till regulations in terms of social welfare. We clarify two conditions to determine which regulation yields a higher welfare. The first condition is whether the solutions under welfare maximization yield positive or negative regulatory profits. The second...