纵向合并在美国反托拉斯史中的演变及发展方向  

The Evolution and Prospect of Vertical Merger in the U.S.Antitrust Legal Development

作　　者：倪芷若 Ni Zhiruo

机构地区：[1]中国政法大学

出　　处：《竞争政策研究》2021年第5期79-89,共11页Competition Policy Research

摘　　要：纵观美国反托拉斯发展史,纵向合并作为纵向一体化下的一种重要表现形式,曾是立法者与监管机构的重点规制对象。但随着上世纪后半叶芝加哥学派、产业组织理论的兴起,纵向合并产生的“消除双重边际化”效应等效率抗辩事由逐渐被法院所接受。而根据司法实践所发展的合理原则下的反竞争分析框架,也导致纵向合并的反竞争效果愈发难以被证实。直到网络时代的来临,双边平台的出现,平台间的纵向收购行为所产生的隐蔽的间接网络效应开始受到关注,平台通过纵向合并获得市场势力的路径也愈加隐蔽。在双边平台反垄断过往案例中,是否需要相关市场的界定也成为一个争议焦点。结合目前主流学术观点与司法实践情形,纵向合并行为不论是在单边平台还是双边平台的背景下,仍采取合理原则的分析框架。同时,界定相关市场仍作为分析纵向合并所产生的市场势力的重要前提。而美国的纵向合并分析框架,又对我国执法机构对纵向经营者集中案件的审查,以及平台经营者的自我管理提供了有益启示。Based on the development of U.S.antitrust legal practices,the vertical merger is one important kind of vertical integration,while it had been strictly supervised by legislators and official entities.As the Chicago School of Economics and Industrial Organization theories appeared and boomed at the beginning of 1970s,the“Elimination of Double Marginalization”,the enhancement of customer welfare and other efficient functions arising from vertical merger have been gradually accepted by courts.Also,according to the Rule of Reason used in most cases of vertical merger,it has become more complex to prove its anti-competitive effects.Until the age of internet and information,more two-sided platforms are trying to merge with others,which lead to the appearance of invisible and indirect internet effects,also the gain of market power.Whether it is necessary to define a relevant market has become a critical issue within antitrust practices.So far as we know,the legal analysis under the Rule of Reason is still a mainstream in vertical merger cases,no matter with the background of one-sided markets or two-sided markets.Meanwhile,it is still vital to assure a relevant market for proving the market power in most vertical merger cases.Above all,this kind of analysis carried in the U.S.can provide benefi cial inspirations for cases about concentrations of undertakings in China,as well as the self-management of Chinese platform operators.

关 键 词：纵向合并 纵向一体化 合理原则 

分 类 号：D971.2[政治法律—法学] DD912.29