We reexamine the profitability and social efficiency of horizontal mergers in audCournot oligopoly with decreasing average costs. Assuming the merger allowsudfor efficiency gains in production, we identify the conditions under whichudthe merger is, respectively, profitable and socially desirable. The economicudpreditions of the model are contrasted with FTC guidelines, based on a simpleudmethod that allows to forecast the economic consequances of a merger inudterms of ex ante observables. This comparative assessment highlights theudexistence of well defined parameter regions where FTC guidelines lead to systematic errors.
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机译：我们在平均成本下降的情况下，重新审查了a udCournot寡头垄断中横向合并的盈利能力和社会效率。假设合并允许提高生产效率，我们确定合并的条件分别是有利可图的和社会可取的。该模型的经济 与基于简单方法的FTC指南进行对比，该方法“事先观察到的 u u n预测合并的经济后果。这项比较评估强调了FTC准则导致系统错误的明确定义的参数区域的不存在。
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