Law and Economics - Competition Law - Lecture Slides, Slides for Competition Law and Policy. A.P. University of Law
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Law and Economics - Competition Law - Lecture Slides, Slides for Competition Law and Policy. A.P. University of Law

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Law and Economics, Competition Law, Core Values, Economic Foundation, Recent Development, Economic Freedom, Integration of Internal Market, Economic Efficiency, Consumer Welfare, Concepts of Competition. The primary purp...
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EU Competition Law

Law and Economics

EU/EC Competition Law

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Introduction to today’s session

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Before examining the details of the Articles, you have to know - core values, economic foundation of EU competition law - the recent development called as ‘Modernisation’

(de-centralisation of the enforcement)

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Chapter 2: The core values of EC competition law in flux

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Introduction - economic freedom - integration of internal market - economic efficiency / consumer welfare --- most influential idea in the present world (the greatest happiness for the greatest number)

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Chapter 2: The core values of EC competition law in flux

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Competing concepts of competition - rivalry (definition by Richard Whish) but rivalry among firms is the ‘means’ not ends…. - economic welfare associated with economic approach - economic freedom / ‘disciplined pluralism’ rights-based approach (liberty, equality) --- US antitrust in its early years Competition protects what?

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Chapter 2: The core values of EC competition law in flux

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Concept of competition in Article 81 Article 101(81) - Article 101(3) and economic welfare approach --- close to economic freedom approach - But also incompatible with economic freedom model --- distributional efficiency

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Chapter 2: The core values of EC competition law in flux

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Concept of competition in Article 81 Rule of reason distraction - notice and takedown system in the past - Article 101(3) will be useless? Contribution of the European Courts - compromised interpretation

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Chapter 2: The core values of EC competition law in flux

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Concept of competition in Article 81 Rule of reason distraction Ancillary restraints - economic freedom model to economic welfare - another way of ‘rule of reason’ Agreements creating competition - ‘opaque’

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Chapter 2: The core values of EC competition law in flux

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Case: Two big companies collaborate to build the most efficient factories in the region. There is no rival, but they are committed to sell the products very cheap. Do you think these companies infringe competition law? What is the reason of that answer? Docsity.com

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