MERGER POLICY IN THE UNITED-STATES - COMMENT

This paper comments briefly on a merger policy article by Dennis Muell er. It concurs with Mueller's judgment that X-efficiency consequences are of crucial relevance in developing a sound antitrust policy toward mergers. It agrees also that firms proposing mergers overstepping str uctural guidelines should be permitted an efficiencies defense, but it stresses the difficulties of making ex ante efficiency predictions.