2023 Merger Guidelines

Revising the Merger Guidelines To Return Antitrust to a Sound Economic and Legal Foundation

The draft Merger Guidelines largely replace the consumer welfare standard of the Chicago School with the lessening of competition principle found in the 1914 Clayton Act. This shift would enable the Federal Trade Commission and Department of Justice Antitrust Division to utilize the full extent of modern economics to respond to rising concentration and its harmful effects, writes John Kwoka.

Debating the Draft Merger Guidelines: Transcript

On September 7, the Stigler Center hosted a webinar to discuss the draft merger guidelines. What follows is a slightly edited transcript of the event.

Split the Legal, Economic and Policy Arguments of the Draft Merger Guidelines

To support the Agencies’ goals of stronger antitrust enforcement, Fiona Scott Morton recommends breaking the draft Merger Guidelines into three documents that clarify the Guidelines’ legal and economic justifications and overarching goals and priorities.

Randy Picker: A Brief for the Public?

Randy Picker provides his round-two comments on the draft Merger Guidelines.

Cory S. Capps & Leemore Dafny: A Conversation on the Draft Merger Guidelines, Round II

Cory S. Capps and Leemore Dafny provide their round-two comments on the draft Merger Guidelines. To read more from...

Merger Guidelines: Taking on a Monopoly Crisis

Matt Stoller lays out the case for the new draft Merger Guidelines, arguing that they incorporate new lessons regarding technology and business practices, while also learning from past mistakes.

Dennis Carlton: The Draft Merger Guidelines Demote Economics To Justify Aggressive Antitrust Enforcement

Dennis Carlton provides his round-two comments on the draft Merger Guidelines.

Steven Salop: Burdens of Proof and Presumptions in the Merger Guidelines

Steven Salop provides his round-two comments on the draft Merger Guidelines.

Eric Posner: The Role of Consumer Welfare in Merger Enforcement

Eric Posner provides his round-two comments on the draft Merger Guidelines.

Eleanor Fox: Tackling the Critics of the Draft Merger Guidelines

Eleanor Fox provides her round-two comments on the draft Merger Guidelines.

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Xerox invented modern copier technology and was so successful that its brand name became a verb. In 1972, U.S. antitrust authorities charged Xerox with monopolization and eventually ordered the licensing of all its copier-related patents. As new research by Robin Mamrak shows, this antitrust intervention promoted subsequent innovation in the copier industry, but only among Japanese competitors. Nevertheless, their innovations benefited U.S. consumers.

Revising the Merger Guidelines To Return Antitrust to a Sound Economic and Legal Foundation

The draft Merger Guidelines largely replace the consumer welfare standard of the Chicago School with the lessening of competition principle found in the 1914 Clayton Act. This shift would enable the Federal Trade Commission and Department of Justice Antitrust Division to utilize the full extent of modern economics to respond to rising concentration and its harmful effects, writes John Kwoka.

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