Competition Law and Economics
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Competition Law and Economics

Developments, Policies and Enforcement Trends in the US and Korea

Edited by Jay P. Choi, Wonhyuk Lim and Sang-Hyop Lee

In this exciting new book, an international team of experts compare market structures, in both global and Korean contexts, particularly focusing on the impact of foreign competition on market concentration and ways to improve market structure. It thoroughly investigates core competition problems, including international abuses of dominance, mergers and collusion, and vertical restraints. Contributions move beyond explaining the laws and practices of enforcement agencies, offering readers an insight into the trend of an ever-increasing interdependence among national economies, complemented by analyses of recent developments in the US and Canada.
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Chapter 6: Comments on merger guidelines

Joseph Farrell

Abstract

This chapter describes procedural and substantive economic issues in the role of horizontal merger guidelines, with particular emphasis on the 2010 US Horizontal Merger Guidelines (HMG). In particular it discusses upward pricing pressure and the adjacent concepts of merger simulation and illustrative price rises. It discusses the nature of coordinated effects and the 2010 US HMG’s approach to parallel accommodating conduct. It also urges more focus on maximizing learning from experience.

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