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The B.E. Journal of Theoretical Economics

Editor-in-Chief: Schipper, Burkhard

Ed. by Fong, Yuk-fai / Peeters, Ronald / Puzzello , Daniela / Rivas, Javier / Wenzelburger, Jan

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Antitrust Evaluation of Horizontal Mergers: An Economic Alternative to Market Definition

Joseph Farrell
  • 1University of California, Berkeley,
/ Carl Shapiro
  • 2University of California, Berkeley,
Published Online: 2010-03-19 | DOI: https://doi.org/10.2202/1935-1704.1563

We describe a simple initial indicator of whether a proposed merger between rivals in a differentiated product industry is likely to raise prices through unilateral effects. Our diagnostic calibrates upward pricing pressure (UPP) resulting from the merger, based on the price/cost margins of the merging firms' products and the extent of direct substitution between them. As a screen for likely unilateral effects, this approach is practical, more transparent, and better grounded in economics than are concentration-based methods.

Keywords: mergers; antitrust; oligopoly; unilateral effects

About the article

Published Online: 2010-03-19

Citation Information: The B.E. Journal of Theoretical Economics, ISSN (Online) 1935-1704, DOI: https://doi.org/10.2202/1935-1704.1563. Export Citation

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