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| Author: | Coate, M.B. Kleit, A.N. |
| Title: | Antitrust policy for declining industries |
| Journal: | Journal of Institutional and Theoretical Economics
1991 : SEPT, VOL. 147:3, p.477-498 |
| Index terms: | MERGERS ANTITRUST |
| Language: | eng |
| Abstract: | Recently the US antitrust authorities have rejected the idea that mergers in declining industries should receive special consideration. The authors develop reasons why declining industries should not be strictly controlled. (i) The naive price tests are illusionary. (ii) Recent game-theoretic literature demonstrates that major improvements of efficiency are available in these industries. |
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