  Standard empirical tools for merger analysis assume price data, which may not
be readily available. This paper characterizes sufficient conditions for
identifying the unilateral effects of mergers without price data. I show that
data on merging firms' revenues, margins, and revenue diversion ratios are
sufficient for identifying the gross upward pricing pressure indices,
compensating marginal cost reductions, and first-order welfare effects. Revenue
diversion ratios can be identified from consumer expenditure data via the
Hotz-Miller inversion under the standard discrete-continuous demand assumption.
Merger simulations are also feasible with CES demand if data on all firms'
margins and revenues are available. I use the proposed framework to evaluate
the Albertsons/Safeway merger (2015) and the Staples/Office Depot merger
(2016).
