New merger control system balances efficiency gains and anti-competitive effects.
The article discusses whether efficiency gains from mergers should be considered in merger control systems and how to balance them with anti-competitive effects. The researchers reviewed economic research and current practices in seven countries, proposing a two-stage decision framework for evaluating mergers. Efficiencies may need to be assessed case-by-case, with routine tools used first and further investigation for mergers that fail the initial test.