On the Consistency of Merger Policy
提出一种方法,利用决策模型推断竞争当局的内部信息,通过挪威保险业并购案发现其决策可能不一致,帮助外部分析师评估政策一致性。
This paper presents a way to get around the information problem facing outside analysts who want to scrutinize competition authorities' decisions. A formal model of how decisions are taken is applied to infer information that is available to the authorities but not to the outside analyst. If the information thus inferred from several decisions is incompatible, it is claimed that the policy executed by the competition authorities is inconsistent. A case study is presented of two recent decisions by the Norwegian Competition Authority on proposed mergers in the Norwegian insurance industry, indicating they most likely were mutually inconsistent.