The Year in Review: Economics at the Antitrust Division 2019–2020

Ronald Drennan (), Helen C. Knudsen, W. Tom Whalen and Jeffrey M. Wilder
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Ronald Drennan: U. S. Department of Justice
Helen C. Knudsen: U. S. Department of Justice
W. Tom Whalen: U. S. Department of Justice
Jeffrey M. Wilder: U. S. Department of Justice

Review of Industrial Organization, 2020, vol. 57, issue 4, No 5, 815-825

Abstract: Abstract Two recent enforcement actions highlight important aspects of the economic analyses that have been performed at the Antitrust Division of the U.S. Department of Justice over this past year: The Novelis-Aleris merger illustrates how the decision-making tools that are used by market participants can reveal market characteristics that are key to merger analysis. The acquisition of Aetna by CVS raised several novel issues. A complex regulatory framework affected optimal bidding behavior among insurers and injected unique considerations into the analysis of a horizontal consolidation. Analysis of vertical aspects of the merger required accounting for variation in the mode of competition across a supply chain.

Keywords: Antitrust; Merger; Vertical merger; Health insurance; Critical loss; Market definition (search for similar items in EconPapers)
Date: 2020
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DOI: 10.1007/s11151-020-09793-9

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