Luis Braido

Luis Braido is an associate professor at FGV EPGE – Brazilian School of Economics and Finance. He holds a PhD in economics from the University of Chicago, and his research interests include empirical microeconomics, industrial organization, and economic theory. He has recently finished a four-year term as Commissioner at CADE – Brazil's antitrust authority.

What Is the Role of Efficiency in Merger Review?

Luis Braido builds on Eric Posner and Carl Shapiro’s debate about the role of economics in merger review by further exploring the tension between efficiency and consumer welfare. He argues that efficiency merits endorsement as it boosts productivity, wealth, and social welfare. Nevertheless, he acknowledges that the law favors competition and consumer welfare over efficiency. From his perspective, enlarging the range of remedies available in merger review is central for protecting productivity gains while preserving competition and compensating consumers for adverse impacts.

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