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dc.contributor.authorChoné, Philippeen_US
dc.contributor.authorLinnemer, Laurenten_US
dc.date.accessioned2006-09-05en_US
dc.date.accessioned2009-07-28T08:11:56Z-
dc.date.available2009-07-28T08:11:56Z-
dc.date.issued2006en_US
dc.identifier.urihttp://hdl.handle.net/10419/25771-
dc.description.abstractThe analysis of horizontal mergers hinges on a tradeoff between unilateral effects and efficiency gains. The article examines the role of uncertainty (on the efficiency gains) in this tradeoff. Common wisdom is that the antitrust authorities should be very cautious about random gains. Our results show that dismissing efficiency gains on the sole ground that they are uncertain would not be theoretically founded. Indeed, the attitude towards uncertainty depends on the curvature of the social objective function. We exhibit a number of situations where the objective is convex in the efficiency gains, implying that competition authorities should welcome the risk for a given expectation of efficiency gains. Implications for empirical merger analysis are exposed.en_US
dc.language.isoengen_US
dc.publisherCESifo Münchenen_US
dc.relation.ispartofseriesCESifo working paper 1726en_US
dc.subject.jelK21en_US
dc.subject.jelL12en_US
dc.subject.jelL41en_US
dc.subject.ddc330en_US
dc.subject.stwFusionen_US
dc.subject.stwHorizontale Konzentrationen_US
dc.subject.stwWirtschaftliche Effizienzen_US
dc.subject.stwWohlfahrtseffekten_US
dc.subject.stwWettbewerbsaufsichten_US
dc.subject.stwWettbewerbstheorieen_US
dc.titleAssessing horizontal mergers under uncertain efficiency gainsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn516992465en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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