HKS Affiliated Authors

Professor of Public Policy, HKS; Bruce V. Rauner Professor of Business Administration, HBS


September 13, 2023, Interview: "By my subjective count, among the Round One submissions to ProMarket’s Merger Guidelines Symposium, four are mostly or strongly favorable towards the draft Merger Guidelines, two are mostly negative, and four are mixed (I include us in the third group). Among the negatives, the common theme is that the draft Merger Guidelines overly emphasize law at the expense of economics and rely on unjustified and potentially counterproductive assumptions about concentration and competition. The mixed takes vary, but the authors seem to generally agree with the goals of the new Guidelines but question whether, as written, they are likely to advance those goals. The favorable takes observe that the new Guidelines would move merger enforcement towards its status prior to the incorporation of the Chicago School into merger analysis and the Reagan-era 1982 Merger Guidelines, and that would be a good outcome." Read Via Promarket