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Right arrow G34 - Mergers; Acquisitions; Restructuring; Corporate Governance
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American Law and Economics Review V6 N2 2004 (476-478)
American Law and Economics Review Vol. 6 No. 2, © American Law and Economics Association 2004; all rights reserved.

Comment on Forni's "Using Stationarity Tests in Antitrust Market Definition"

David Genesove

Hebrew University of Jerusalem and Centre for Economic Policy Research

Send correspondence to: David Genesove, Department of Economics, Hebrew University of Jerusalem, Mount Scopus, Jerusalem, 91905, Israel; E-mail: genesove@mscc.huji.ac.il.

The first 10% of the full text of this article appears below.

Economic analyses of prospective mergers must typically be undertaken with limited data. Often prices are the only available data, so it is tempting to use their time series alone. Certainly, simple and robust measures of the extent of the market based on limited data would aid merger analysis immensely. However, a couple of examples show how Forni's suggested methodology can lead one astray.

Consider a differentiated products market with demand system ln Di(pi, pj) = 1 – {varepsilon} ln pi + {gamma} ln pj, i, j = 1, 2, i != j, with associated constant marginal costs c1 = {delta}t c, c2 . . . [Full Text of this Article]


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 Journal of Competition Law and EconomicsHome page
P. J. Coe and D. Krause
AN ANALYSIS OF PRICE-BASED TESTS OF ANTITRUST MARKET DELINEATION
Journal of Competition Law and Economics, December 1, 2008; 4(4): 983 - 1007.
[Abstract] [Full Text] [PDF]