The innovation assessment of horizontal mergers in dynamic markets: EU and US approaches : what substantive test should be conducted by competition authorities to assess the effects horizontal mergers have on innovation ?

This paper is focused on the substantive test conducted by competition authorities to assess the effects horizontal mergers have on innovation. It presents the relationship between the economic theory and competition as well as the evolution of the different innovation assessment approaches. It attempts to determine whether the current assessment test is suitable and to show which aspects are subject to criticism and require a review.