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Journal of Competition Law and Economics Advance Access originally published online on October 23, 2007
Journal of Competition Law and Economics 2008 4(2):433-447; doi:10.1093/joclec/nhm029
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© The Author (2007). Published by Oxford University Press. All rights reserved. For Permissions, please email: journals.permissions@oxfordjournals.org

THE PRICE EFFECTS OF HORIZONTAL MERGERS

Matthew Weinberg *

This paper surveys the literature on the price effects of horizontal mergers. Most mergers examined in the nine studies conducted over the past 22 years resulted in increased prices for both the merging parties and rival firms, at least in the short run. There is some evidence that product prices increase after mergers are announced, but before they are consummated. Recent evidence from consumer product markets suggests that a stricter merger policy is needed to protect consumer welfare.

* Assistant Professor of Economics, University of Georgia, Department of Economics, Brooks Hall Fifth Floor, Athens, GA 30602-6254, USA. E-mail: mweinber{at}uga.edu. I thank Orley Ashenfelter and Dave Kamerschen for comments and the Center for Economic Policy Studies at Princeton University for support.


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