Mergers in High-Tech: A Response to Critics

Faced with the growing power of tech giants, a number of antitrust analysts advocate for a reversal of the burden of proof in merger review: let the acquirer prove in court that the merger is pro-competitive. I argue that such reform would likely have a significant chilling effect on mergers (which is not surprising) and in turn would likely reduce the rate of innovation (which is more controversial) and ultimately would lower consumer welfare. I respond to a series of objections to this view. I