In current horizontal merger policy in the US and the EU an explicit efficiency defense is allowed. On both sides of …’ potential to harm consumers in the relevant market. Current merger policy is implicitly based on the assumption that rational … managers will only propose privately profitable mergers. In this thesis I will show that the empirical evidence on merger …

-competitive effects that may result from mergers and acquisitions. In order to appropriately consider efficiency claims in the merger … efficiency gains in merger analysis …. Consequently, many antitrust agencies take into account the balancing effects of efficiency gains compared to anti …

outsiders. With PD, in most cases, the merger generates efficiency gains when spillovers and/or PD are sufficiently high. With …This article analyzes endogenous efficiency gains from mergers. It considers oligopolistic homogeneous good markets and … homogeneous good markets, all possible mergers generate efficiency gains, and that these are most significant when R&D spillovers …

that would prevent a merger from harming consumers for 1,014 mergers affecting 12,325 antitrust markets scrutinized by the … concerns about the Commission's merger enforcement being too lax. …