Geographic Market Definition in the Merger Guidelines: A Retrospective

Ken Elzinga and Vandy Howell describe the evolution of geographic market definition in this Review of Industrial Organization article.

As authors Ken Elzinga and Vandy Howell explain, the trajectory of the six Horizontal Merger Guidelines—1968, 1982, 1984, 1992, 1997, and 2010—serves as a chronicle of how geographic market definition has changed over the last 50 years.

Were one to follow the changes in the Guidelines, what facts might have been expected to be emphasized differently over time?

Using the Pabst Brewing Company and Blatz Brewing Company merger challenged by the DOJ in 1959 as an example, the article traces the development of geographic market definition and its varying implications for assessing the bounds of competition over time.

This article was originally published in the Review of Industrial Organization.

The views expressed herein do not necessarily represent the views of Cornerstone Research.