Sloshing Around with the ‘Waterbed Effect’

Eric Fruits September 5, 2023

Truth on the Market View Original Source

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If you spend a lot of time in the world of competition policy—or any time at all on the announced Kroger/Albertsons merger—you will eventually stumble on the unfortunately named and greatly misunderstood “waterbed effect.” In a congressional hearing regarding the merger, this purported effect was mentioned at least a half-dozen times.

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