Comparing Merger Policies in the European Union and the United States

Comparing Merger Policies in the European Union and the United States We collect a sample of EU and US merger investigations, estimate models of the regulatory decisions, and use the models to compare merger policies. Our approach allows us to decompose observed differences into policy effects and case-mix effects. Focusing on dominance mergers, we find that the EU is tougher than the US on average, in particular for mergers resulting in moderate market shares. However, the US appears to be more aggressive for coordinated interaction and non-dominance unilateral effects cases. Overall, our analysis detects substantial differences in policies, but it does not classify one regime as being more aggressive than the other. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Review of Industrial Organization Springer Journals

Comparing Merger Policies in the European Union and the United States

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Publisher
Springer Journals
Copyright
Copyright © 2010 by US Government
Subject
Economics; Industrial Organization; Microeconomics
ISSN
0889-938X
eISSN
1573-7160
D.O.I.
10.1007/s11151-010-9254-8
Publisher site
See Article on Publisher Site

Abstract

We collect a sample of EU and US merger investigations, estimate models of the regulatory decisions, and use the models to compare merger policies. Our approach allows us to decompose observed differences into policy effects and case-mix effects. Focusing on dominance mergers, we find that the EU is tougher than the US on average, in particular for mergers resulting in moderate market shares. However, the US appears to be more aggressive for coordinated interaction and non-dominance unilateral effects cases. Overall, our analysis detects substantial differences in policies, but it does not classify one regime as being more aggressive than the other.

Journal

Review of Industrial OrganizationSpringer Journals

Published: Jul 23, 2010

References

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