Merger Policy at the Margin: Western Refining’s Acquisition of Giant Industries

Nicholas Kreisle ()

Review of Industrial Organization, 2015, vol. 47, issue 1, 89 pages

Abstract: In May 2007, a United States District Court declined to grant the Federal Trade Commission a preliminary injunction that would have blocked the merger of two petroleum refiners that served Albuquerque, New Mexico, and surrounding areas. This study compares estimates of the post-merger price effect to the price effects that were predicted by economic experts on both sides of the case. I find little scope to interpret the evidence as consistent with an anticompetitive post-merger price effect. I also highlight the difficulties that are involved in econometrically identifying small effects even with an abundance of pricing data. Copyright Springer Science+Business Media New York (outside the USA) 2015

Keywords: Antitrust; Autocorrelation; Merger retrospectives; Petroleum refining (search for similar items in EconPapers)
Date: 2015
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DOI: 10.1007/s11151-015-9463-2

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