TY  - JOUR
AU  - Katz,Michael L.
AU  - Shelanski,Howard A.
TI  - Merger Policy and Innovation: Must Enforcement Change to Account for Technological Change?
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 10710
PY  - 2004
Y2  - August 2004
UR  - http://www.nber.org/papers/w10710
L1  - http://www.nber.org/papers/w10710.pdf
N1  - Author contact info:
Michael L. Katz
UC, Berkeley
Haas School of Business
545 Student Services #1900
Berkeley, CA 94720-1900
E-Mail: katz@haas.berkeley.edu
M1  - published as Michael L. Katz, Howard A. Shelanski. "Merger Policy and Innovation: Must Enforcement Change to Account for Technological Change?," in Adam B. Jaffe, Josh Lerner and Scott Stern, editors, "Innovation Policy and the Economy, Volume 5" The MIT Press (2005)

AB  - Merger policy is the most active area of U.S. antitrust policy. It is now widely believed that merger policy must move beyond its traditional focus on static efficiency to account for innovation and address dynamic efficiency. Innovation can fundamentally affect merger analysis in two ways. First, innovation can dramatically affect the relationship between the pre-merger marketplace and what is likely to happen if a proposed merger is consummated. Thus, innovation can fundamentally influence the appropriate analysis for addressing traditional, static efficiency concerns. Second, innovation can itself be an important dimension of market performance that is potentially affected by a merger. We explore how merger policy is meeting the challenges posed by innovation.
ER  -