economics and the interpretation and application of u s and e u antitrust law volume ii economics based legal analyses of mergers vertical practices and joint ventures 2

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Economics And The Interpretation And Application Of U S And E U Antitrust Law

Author : Richard S. Markovits
ISBN : 9783642243134
Genre : Political Science
File Size : 44. 87 MB
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Volume 2 uses the economic and legal concepts/theories of Volume 1 to (1) analyze the U.S. and E.U. antitrust legality of mergers, joint ventures, and the pricing-technique and contractual/sales-policy distributor-control surrogates for vertical integration and (2) assess related positions of scholars and U.S. and E.U. antitrust officials. Its analysis of horizontal mergers (1) delineates non-market-oriented protocols for determining whether they manifest specific anticompetitive intent, would lessen competition, or are rendered lawful by the efficiencies they would generate, (2) criticizes the U.S. courts’ traditional market-share/market-concentration protocol, the HHI-oriented protocols of the 1992 U.S. DOJ/FTC Guidelines and the European Commission (EC) Guidelines, and the various non-market-oriented protocols the DOJ/FTC have increasingly been using, (3) argues that, although the 2010 U.S. Guidelines and DOJ/FTC officials discuss market definition as if it matters, those Guidelines actually reject market-oriented approaches, and (4) reviews the relevant U.S. and E.U. case-law. Its analysis of conglomerate mergers (1) shows that they can perform the same legitimate and competition-increasing functions as horizontal mergers and can yield illegitimate profits and lessen competition by increasing contrived oligopolistic pricing and retaliation barriers to investment, (2) analyzes the determinants of all these effects, and (3) assesses limit-price theory, the toe-hold-merger doctrine, and U.S. and E.U. case-law. Its analysis of vertical conduct (1) examines the legitimate functions of each type of such conduct, (2) delineates the conditions under which each manifests specific anticompetitive intent and/or lessens competition, and (3) assesses related U.S. and E.U. case-law and DOJ/FTC and EC positions. Its analysis of joint ventures (1) explains that they violate U.S. law only when they manifest specific anticompetitive intent while they violate E.U. law either for this reason or because they lessen competition, (2) discusses the meaning of an “ancillary restraint” and demonstrates that whether a joint-venture agreement would be illegal if it imposed no restraints and whether any restraints imposed are ancillary can be determined only through case-by-case analysis, (3) explains why scholars and officials overestimate the economic efficiency of R&D joint ventures, and (4) discusses related U.S. and E.U. case-law and DOJ/FTC and EC positions. The study’s Conclusion (1) reviews how its analyses justify its innovative conceptual systems and (2) compares U.S. and E.U. antitrust law as written and as applied.

International Antitrust Law Policy Fordham Competition Law 2007

Author : Barry E. Hawk
ISBN : 9781578232352
Genre : Antitrust law
File Size : 68. 5 MB
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This volume contains articles and panel discussions delivered during the Thirty-fourth Annual fordham Competition Law Insitute Conference on International antitrust Law & Policy.

Competition Law

Author : Eugène Buttigieg
ISBN : 9789041131195
Genre : Law
File Size : 37. 76 MB
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Although it is commonly assumed that consumers benefit from the application of competition law, this is not necessarily always the case. Economic efficiency is paramount; thus, competition law in Europe and antitrust law in the United States are designed primarily to protect business competitors (and in Europe to promote market integration), and it is only incidentally that such law may also serve to protect consumers. That is the essential starting point of this penetrating critique. The author explores the extent to which US antitrust law and EC competition law adequately safeguard consumer interests. Specifically, he shows how the two jurisdictions have gone about evaluating collusive practices, abusive conduct by dominant firms and merger activity, and how the policies thus formed have impacted upon the promotion of consumer interests. He argues that unless consumer interests are directly and specifically addressed in the assessment process, maximization of consumer welfare is not sufficiently achieved. Using rigorous analysis he develops legal arguments that can accomplish such goals as the following: replace the economic theory of 'consumer welfare' with a principle of consumer well-being; build consumer benefits into specific areas of competition policy; assess competition cases so that income distribution effects are more beneficial to consumers; and control mergers in such a way that efficiencies are passed directly to consumers. The author argues that, in the last analysis, the promotion of consumer well-being should be the sole or at least the primary goal of any antitrust regime. Lawyers and scholars interested in the application and development and reform of competition law and policy will welcome this book. They will find not only a fresh approach to interpretation and practice in their field - comparing and contrasting two major systems of competition law - but also an extremely lucid analysis of the various economic arguments used to highlight the consumer welfare enhancing or welfare reducing effects of business practices.

Matters Of Principle

Author : Richard S. Markovits
ISBN : 9780814755136
Genre : Law
File Size : 84. 59 MB
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When Kosovar Albanians came to Albania after the fall of Communism, they were surprised to find an impoverished motherland whose people were consumed with questions of basic survival. Albania's citizens, for their part, were dumbstruck by the relatively opulent lifestyles of the Kosovars. Yet despite their profound differences, the myth of a "Greater Albania" persists. In this timely book, Paulin Kola challenges this myth, arguing that there is not widespread support for a "Greater Albania" among the Albanian-speaking peoples. He shows that Albanians do not wish to join a single, politically recognized entity and demonstrates how the Albanians are marked by ideological, religious, and other divisions. While a "Greater Kosovo" remains a remote possibility, there is little chance of the Albanians of either Albania or the diaspora supporting moves to dissolve the present international borders in pursuit of an "Albanian homeland." Albanians appear content to retain their discrete political entities, while traveling and trading freely. Accessible and urgent, this book effectively puts to rest the cherished myths of Albanian nationalism.

The Eu Merger Regulation

Author : Alistair Lindsay
ISBN : 9780414048447
Genre : Antitrust law
File Size : 69. 11 MB
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This new edition provides a detailed guide to the analysis of mergers by the European Commission. Fully revised for 2012, it describes how the Commission determines whether to approve a notified concentration, providing all the necessary information and techniques to secure clearance for mergers in the EU.

The Concept Of Abuse In Eu Competition Law

Author : Pinar Akman
ISBN : 9781847318909
Genre : Law
File Size : 52. 16 MB
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The objective(s) of Article 102 TFEU, what exactly makes a practice abusive and the standard of harm under Article 102 TFEU have not yet been settled. This lack of clarity creates uncertainty for businesses and, coupled with the current state of economics in this area, raises an important question of legitimacy. Using law and economic approaches, this book inquires into the possible objectives of Article 102 TFEU and proposes a modern approach to interpreting 'abuse'. In doing so, this book establishes an overarching concept of 'abuse' that conforms to the historical roots of the provision, to the text of the provision itself, and to modern economic thinking on unilateral conduct. This book therefore inquires into what Article 102 TFEU is about, what it can be about and what it should be about regarding both objectives and scope. The book demonstrates that the separation of exploitative abuse from exclusionary abuse is artificial and unsound. It examines the roots of Article 102 TFEU and the historical context of the adoption of the Treaty, the case law, policy and literature on exploitative abuses and, where relevant, on exclusionary abuses. The book investigates potential objectives, such as fairness and welfare, as well as the potential conflict between such objectives. Finally, it critically assesses the European Commission's modernisation of Article 102 TFEU, before proposing a reformed approach to 'abuse' which is centred on three necessary and sufficient conditions: exploitation, exclusion and a lack of an increase in efficiency.

Antitrust Paradox

Author : Robert H. Bork
ISBN : 0029044561
Genre : Law
File Size : 69. 52 MB
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Since it first appeared in 1978, this seminal work by one of the foremost American legal minds of our age has dramatically changed the way the courts view government's role in private affairs. Now reissued with a new introduction and epilogue by the author, this classic shows how antitrust suits adversely affect the consumer by encouraging a costly form of protection for inefficient and uncompetitive small businesses. Robert Bork's view of antitrust law has had a profound impact on how the law has been both interpreted and applied. The Antitrust Paradox illustrates how the purpose and integrity of law can be subverted by those who do not understand the reality law addresses or who seek to make it serve unintended political and social ends. - Back cover.

Economics And The Interpretation And Application Of U S And E U Antitrust Law

Author : Richard S. Markovits
ISBN : 3642243142
Genre : Political Science
File Size : 60. 9 MB
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Volume 2 uses the economic and legal concepts/theories of Volume 1 to (1) analyze the U.S. and E.U. antitrust legality of mergers, joint ventures, and the pricing-technique and contractual/sales-policy distributor-control surrogates for vertical integration and (2) assess related positions of scholars and U.S. and E.U. antitrust officials. Its analysis of horizontal mergers (1) delineates non-market-oriented protocols for determining whether they manifest specific anticompetitive intent, would lessen competition, or are rendered lawful by the efficiencies they would generate, (2) criticizes the U.S. courts’ traditional market-share/market-concentration protocol, the HHI-oriented protocols of the 1992 U.S. DOJ/FTC Guidelines and the European Commission (EC) Guidelines, and the various non-market-oriented protocols the DOJ/FTC have increasingly been using, (3) argues that, although the 2010 U.S. Guidelines and DOJ/FTC officials discuss market definition as if it matters, those Guidelines actually reject market-oriented approaches, and (4) reviews the relevant U.S. and E.U. case-law. Its analysis of conglomerate mergers (1) shows that they can perform the same legitimate and competition-increasing functions as horizontal mergers and can yield illegitimate profits and lessen competition by increasing contrived oligopolistic pricing and retaliation barriers to investment, (2) analyzes the determinants of all these effects, and (3) assesses limit-price theory, the toe-hold-merger doctrine, and U.S. and E.U. case-law. Its analysis of vertical conduct (1) examines the legitimate functions of each type of such conduct, (2) delineates the conditions under which each manifests specific anticompetitive intent and/or lessens competition, and (3) assesses related U.S. and E.U. case-law and DOJ/FTC and EC positions. Its analysis of joint ventures (1) explains that they violate U.S. law only when they manifest specific anticompetitive intent while they violate E.U. law either for this reason or because they lessen competition, (2) discusses the meaning of an “ancillary restraint” and demonstrates that whether a joint-venture agreement would be illegal if it imposed no restraints and whether any restraints imposed are ancillary can be determined only through case-by-case analysis, (3) explains why scholars and officials overestimate the economic efficiency of R&D joint ventures, and (4) discusses related U.S. and E.U. case-law and DOJ/FTC and EC positions. The study’s Conclusion (1) reviews how its analyses justify its innovative conceptual systems and (2) compares U.S. and E.U. antitrust law as written and as applied.

Truth Or Economics

Author : Richard S. Markovits
ISBN : 0300145225
Genre : Business & Economics
File Size : 69. 21 MB
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Is economic efficiency a sound basis upon which to make public policy or legal decisions? In this sophisticated analysis, Richard S. Markovits considers the way in which scholars and public decision-makers define, predict, and assess the moral and legal relevance of economic efficiency. The author begins by identifying imperfections in the traditional definition of economic efficiency. He then develops and illustrates an appropriate response to Second-Best Theory and investigates the moral and legal relevance of economic-efficiency analyses. Not only do virtually all economic, legal, and public policy thinkers misdefine economic efficiency, the author concludes, they also ignore or respond inadequately to Second-Best Theory when analyzing the economic efficiency of public choices and misassess the relevance of economic-efficiency conclusions both for moral evaluations and for the answer to legal-rights questions that is correct as a matter of law.

Law And Economics In European Merger Control

Author : Ulrich Schwalbe
ISBN : 9780199571819
Genre : Business & Economics
File Size : 34. 6 MB
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Law and Economics in European Merger Control provides a thorough introduction to the economic theory underlying the regulation of mergers. The central economic concepts of efficiency and welfare are introduced and their role in the foundations of competition law is explained. Market structures of perfect competition, monopoly and oligopoly are analysed and the methods for delineating and evaluating the effects of mergers on markets are explained. Having examined the economic context, the book then proceeds to offer an exhaustive analysis of the application of economic theory in the practice of merger regulation in Europe. Through an analysis of more than 300 competition cases the book critiques the current state of EC competition law against its economic aims, and offers views for the future development of the law. It also sets out an account of the European Commission's search for a 'more economic approach' to competition law, and analyses the policy's successes and failures.

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