Dexron II, Dexron III, Mercon, +4?

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I did some searching but couldn't find a comparison of these ATF designations. Can anyone help me understand the differences?
 
You use only what your transmission was designed for. Using anything else will most certainly cause a very early death for your tranny.
 
Thanks for the wisdom, but that's not what I'm asking. I'm interested in how and why these oils have evolved. Can anyone shed some light on this subject?
 
Your welcome and enjoy!
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