Abstract
The new Horizontal Merger Guidelines, if treated by courts as a source of law, would reduce the discretion that is traditionally exercised by courts in defining relevant markets and market power in merger cases. This is an undesirable shift in the balance of power because courts have used the market power inquiry stage of merger analysis as a general checkpoint or weigh station for evaluating factors relevant to the welfare effects of a merger.
Similar content being viewed by others
References
Areeda P., Kaplow L., Edlin A. S. (2004) Antitrust analysis: Problems, texts, and cases. Aspen, New York
Ashenfelter, O. & Hosken, D. (2008). The effect of mergers on consumer prices: Evidence from five selected case studies. NBER Working Paper 13859.
Coase R. H. (1937) The nature of the firm. Economica 4(16): 386–405
Easterbrook F. H. (1984) The limits of antitrust. Texas Law Review 63(1): 1
Farrell J., Shapiro C. (2001) Scale economies and synergies in horizontal merger analysis. Antitrust Law Journal 68(3): 685–710
Filson D., Songsamphant B. (2005) Horizontal mergers and exit in declining industries. Applied Economics Letters 12(2): 129–132
Fisher F. M. (1979) Diagnosing monopoly. Quarterly Review of Economics and Business 19(2): 7–33
Gowrisankaran G. (1999) A dynamic model of endogenous horizontal mergers. RAND Journal of Economics 30(1): 56–83
Hylton K. N. (2003) Antitrust law: Economic theory and common law evolution. Cambridge University Press, Cambridge, UK
Hylton K. N. (2006) Duty in tort law: An economic approach. Fordham Law Review 75(3): 1525
Hylton K. N., Lin H. (2010) Optimal antitrust enforcement, dynamic competition, and changing economic conditions. Antitrust Law Journal 77(1): 264–269
Kamien M. I., Zang I. (1990) The limits of monopolization through acquisition. Quarterly Journal of Economics 105(2): 465–499
Shapiro C. (2010) The 2010 horizontal merger guidelines: From Hedgehog to Fox in forty years. Antitrust Law Journal 77(1): 701–703
United States Department of Justice and Federal Trade Commission. (2010). Horizontal merger guidelines. [hereinafter Guidelines]. Available at http://www.ftc.gov/os/2010/08/100819hmg.pdf.
Wright, J. D. (2010, August 10). Comment on the proposed update on the horizontal merger guidelines: Accounting for out-of-market efficiencies. George Mason law and economics research paper no. 10-38. Available at http://www.ssrn.com/abstract=1656538.
Author information
Authors and Affiliations
Corresponding author
Rights and permissions
About this article
Cite this article
Hylton, K.N. Brown Shoe Versus the Horizontal Merger Guidelines. Rev Ind Organ 39, 95–106 (2011). https://doi.org/10.1007/s11151-011-9311-y
Published:
Issue Date:
DOI: https://doi.org/10.1007/s11151-011-9311-y