The 2020 Vertical Merger Guidelines assume that the elimination of double marginalization caused by vertical integration is procompetitive. A body of research shows that this assumption may fail to hold in multiproduct industries. In this paper, we present a model of a vertical supply chain to analyze equilibrium effects of vertical integration, which we use to shed light on when an elimination of double marginalization may fail to be procompetitive in multiproduct industries. In particular, we discuss diversion ratios as a tool for diagnosing anticompetitive effects.

中文翻译：

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诊断多产品公司垂直整合的反竞争影响

2020 年纵向合并指南假设消除纵向整合导致的双重边缘化是有利于竞争的。大量研究表明，这种假设可能不适用于多产品行业。在本文中，我们提出了一个垂直供应链模型来分析垂直整合的均衡效应，我们用它来阐明何时消除双重边缘化可能无法促进多产品行业的竞争。特别是，我们将转移比率作为诊断反竞争影响的工具进行讨论。