Improving Economic Analysis in Merger Guidelines
指出现代合并指南在信息收集、市场定义、效率分析和进入动态等方面存在缺陷，并基于决策分析和产业组织经济学提出改进方法，对反垄断政策制定者和从业者有参考价值。
Merger review should reflect basic precepts of decision analysis, best practices in industrial organization economics, and teachings from related fields. Unfortunately, the analytical methods in modern merger guidelines fall short. Protocols violate standard prescriptions for information collection and decision-making, rely on a market definition paradigm that deviates significantly from core models of competitive interaction, fail to leverage central advances in understanding the efficiency consequences of mergers, and contravene or ignore fundamental dynamics relating to entry. This article elaborates correct analysis and contrasts it with that embodied in modern merger guidelines generally employed throughout the developed world, including the 2023 Merger Guidelines revision in the United States.