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Should New Merger Guidelines Give UPP Market Definition?

BY | February 17, 2010

This article is part of a Chronicle. See more from this Chronicle Richard Schmalensee, Dec 16, 2009 In an important recent paper, Joseph Farrell and Carl Shapiro propose a new…

This article is part of a Chronicle. See more from this Chronicle

Richard Schmalensee, Dec 16, 2009

In an important recent paper, Joseph Farrell and Carl Shapiro propose a new quantitative approach to assessing the competitive impact of horizontal mergers that does not involve defining a relevant market. I believe that Farrell and Shapiro have made a significant contribution that has the potential to improve merger enforcement. In what follows I describe their approach, propose a slight modifica

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