Revising the Horizontal Merger Guidelines: Lessons from the E.U. and the U.S.

COMPETITION POLICY AND REGULATIONS: RECENT DEVELOPMENTS IN CHINA, EUROPE AND THE US, M. Faure and X. Zhang, eds., Edward Elgar, Forthcoming

UC Berkeley Public Law Research Paper No. 1660638

21 Pages Posted: 19 Aug 2010

See all articles by Richard Gilbert

Richard Gilbert

University of California, Berkeley - Department of Economics

Daniel L. Rubinfeld

University of California at Berkeley - School of Law; National Bureau of Economic Research (NBER); NYU Law School

Abstract

Recently, the U.S. Department of Justice and Federal Trade Commission have embarked on an effort to revise and update the U.S. Horizontal Merger Guidelines. here is substantial overlap between the U.S. and E.U. Guidelines, which makes a proposal for U.S. revisions immediately applicable to the E.U. and elsewhere. The U.S. Merger Guidelines can be revised in light of the learning of economists and lawyers in the past two decades to emphasize the importance of competitive effects analysis in merger evaluation and the forces that drive innovation. The Guidelines should also note that once a competitive effects analysis has been completed, it is possible to “back out” a relevant market (or markets) that is consistent with that competitive effects analysis.

Keywords: Mergers, Guidelines

JEL Classification: L10, L40

Suggested Citation

Gilbert, Richard J. and Rubinfeld, Daniel L., Revising the Horizontal Merger Guidelines: Lessons from the E.U. and the U.S.. COMPETITION POLICY AND REGULATIONS: RECENT DEVELOPMENTS IN CHINA, EUROPE AND THE US, M. Faure and X. Zhang, eds., Edward Elgar, Forthcoming, UC Berkeley Public Law Research Paper No. 1660638, Available at SSRN: https://ssrn.com/abstract=1660638

Richard J. Gilbert

University of California, Berkeley - Department of Economics ( email )

549 Evans Hall #3880
Berkeley, CA 94720-3880
United States

Daniel L. Rubinfeld (Contact Author)

University of California at Berkeley - School of Law ( email )

215 Boalt Hall
Berkeley, CA 94720-7200
United States
(510) 642-1959 (Phone)
(510) 642-3767 (Fax)

HOME PAGE: http://www.law.berkeley.edu/faculty/rubinfeldd

National Bureau of Economic Research (NBER)

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NYU Law School ( email )

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(212) 992 8834 (Phone)

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