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Welfare Standards and Merger Analysis: Why not the Best? Kenneth Heyer, EAG 06-08, March 2006 Abstract: That having been said, there remains a question of which welfare standard to use, and
exactly whose welfare to consider. Several candidates suggest themselves. I argue in this paper
for using the so-called "Total Welfare" standard, rather than the more commonly employed
"Consumer Welfare" standard. In doing so, I respond to three broad objections that have
been raised. One is that use of a total welfare standard conflicts with antitrust law, or at least with
legal precedent. A second is that employing a total welfare standard would be more costly for
antitrust agencies than employing one or another flavor of a consumer welfare standard. A third is
that the total welfare standard ignores important distributional considerations-considerations that
are better treated under some form of consumer welfare standard. Each of these objections is
evaluated, and ultimately found unpersuasive. Policies and Disclaimers Privacy Accessibility Department of Justice USA.gov
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