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Mergers, Merger Control, and Remedies: A Retrospective Analysis of U.S. Policy: Book by John E. Kwoka

Mergers, Merger Control, and Remedies: A Retrospective Analysis of U.S. Policy

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ISBN: 9780262028486    Publisher: MIT Press Ltd Year of publishing: 2014     Format:  Hardback No of Pages: 288        Language: English
In recent decades, antitrust investigations and cases targeting mergers -- including those involving Google, Ticketmaster, and much of the domestic airline industry -- have reshaped industries and changed...Read more
In recent decades, antitrust investigations and cases targeting mergers -- including those involving Google, Ticketmaster, and much of the domestic airline industry -- have reshaped industries and changed business practices profoundly. And yet there has been a relative dearth of detailed evaluations of the effects of mergers and the effectiveness of merger policy. In this book, John Kwoka, a noted authority on industrial organization, examines all reliable empirical studies of the effect of specific mergers and develops entirely new information about the policies and remedies of antitrust agencies regarding these mergers. Combined with data on outcomes, this policy information enables analysis of, and creates new insights into, mergers, merger policies, and the effectiveness of remedies in preventing anticompetitive outcomes. After an overview of mergers, merger policy, and a common approach to merger analysis, Kwoka offers a detailed analysis of the studied mergers, relevant policies, and chosen remedies.
Kwoka finds, first and foremost, that most of the studied mergers resulted in competitive harm, usually in the form of higher product prices but also with respect to various non-price outcomes. Other important findings include the fact that joint ventures and code sharing arrangements do not result in such harm and that policies intended to remedy mergers -- especially conduct remedies -- are not generally effective in restraining price increases. The book's uniquely comprehensive analysis advances our understanding of merger decisions and policies, suggests policy improvements for competition agencies and remedies, and points the way to future research.
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About the author: John E. Kwoka
John Kwoka is Neal F. Finnegan Distinguished Professor of Economics at Northeastern University. He is the coauthor of The Antitrust Revolution:... Read more
John Kwoka is Neal F. Finnegan Distinguished Professor of Economics at Northeastern University. He is the coauthor of The Antitrust Revolution: Economics, Competition, and Policy.
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Review:
Mergers, Merger Control, and Remedies is foremost an economics book. But it has a high readability factor for non-economist antitrust practitioners and policy makers. This derives largely from...Read more
Mergers, Merger Control, and Remedies is foremost an economics book. But it has a high readability factor for non-economist antitrust practitioners and policy makers. This derives largely from Kwoka's seamless and intuitive linking of empirics, to valuable insight into observed agency outcomes, to implications for merger policy. As a result, the book is a must-read for economists, lawyers, institutional experts, and policy makers. -- Diana L. Moss The American Antitrust Institute Kwoka's new book effectively sets the stage for...enforcement agencies to undertake initiatives and projects...[T]he book moves the debate forward and toward steps to improve the effectiveness of merger enforcement policies. -- Robert A. Skitol The Antitrust Source A frequent lament in academe goes this way: "Wouldn't it be great if someone put together all of the studies on..." For retrospective analyses of "close call" but nevertheless consummated mergers, Kwoka (Northeastern Univ.) provides just that -- and more. Highly Recommended. Choice
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