Econometric analyses such as demand estimation and reduced form price analysis are increasingly being used in Europe by both competition authorities and the merging parties to provide direct evidence on the unilateral effects of mergers. Unlike most other evidence and analyses used in merger assessment it is possible to objectively assess the robustness and statistical reliability of econometric analy-ses, and this is a major issue in every merger case that involves such analyses. However, since any econometric analysis involves dealing with a range of complex methodological issues it is almost inevitable that there will be some limitations with the analysis. These limitations should not be used to dismiss the analysis in its entirety, but should determine how much weight is placed on the analysis in the merger assessment.
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