AbstractOn the occasion of the 10th anniversary of the 2010 U.S. Horizontal Merger Guidelines, this article provides an overview of the state of economic analysis of unilateral effects in mergers with differentiated products. Drawing on our experience with merger enforcement in Europe, we discuss both static and dynamic competition, with a special emphasis on the calibration of competitive effects. We also discuss the role of market shares and structural presumptions in differentiated product markets.
The literature on competitive effects of common ownership has grown at a fast rate in the past two years. Anticompetitive effects have been confirmed with alternative reduced-form and structural estimation methods, in different industries, geographies, and jurisdictions. Multiple independent studies have disproven early critiques of the literature. Other papers document the heterogeneity of common ownership effects on competition across markets and industries. Important advances were made on the study of the economic mechanisms and governance channels that implement anti-competitive incentives. New theory refines the interpretation of existing empirical work. Access to high-quality ownership and product-market data remains a bottleneck for meaningful research in the area.
COMPETITIVE EFFECTS OF THE ALIEN INVASIVE CENTAUREA SOLSTITIALISL. ON TWO CHILEAN BACCHARIS SPECIES AT DIFFERENT LIFE-CYCLE STAGES