Merger Policy at the Margin: Western Refining’s Acquisition of Giant Industries

Merger Policy at the Margin: Western Refining’s Acquisition of Giant Industries In May 2007, a United States District Court declined to grant the Federal Trade Commission a preliminary injunction that would have blocked the merger of two petroleum refiners that served Albuquerque, New Mexico, and surrounding areas. This study compares estimates of the post-merger price effect to the price effects that were predicted by economic experts on both sides of the case. I find little scope to interpret the evidence as consistent with an anticompetitive post-merger price effect. I also highlight the difficulties that are involved in econometrically identifying small effects even with an abundance of pricing data. Review of Industrial Organization Springer Journals

Merger Policy at the Margin: Western Refining’s Acquisition of Giant Industries

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Springer US
Copyright © 2015 by Springer Science+Business Media New York (outside the USA)
Economics / Management Science; Industrial Organization; Microeconomics
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