Download or read book Essays on Consumer Welfare and Competition Policy written by Gregory J. Werden and published by . This book was released on 2009 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: The discourse on competition policy often uses the term quot;consumer welfarequot; but rarely is clear about its meaning or role. I address the meaning and role of quot;consumer welfarequot; in three discrete essays. The first reviews key economic concepts and the usage of the term quot;consumer welfarequot; then outlines distinct ways in which consumer welfare considerations could be relevant in competition law. The second essay examines the meaning and role of consumer welfare in merger control. It concludes that the welfare of all consumers should be considered, but short-term price effects in the relevant market nevertheless should be the initial focus in assessing proposed mergers. The third essay examines the meaning and role of consumer welfare in competition law on concerted practices and potentially exclusionary conduct by individual competitors. It concludes that promoting the welfare of all consumers is the ultimate goal of the law but effect on consumer welfare is not the test for legality nor generally even an appropriate guide for the application of the law.

Download or read book Three Essays on Market Power and Consumer Welfare written by Yenjae Chang and published by . This book was released on 2021 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation consists of three papers on quantifying the welfare impacts of firms' behavior concerning three topics in Industrial Organization. The first paper (Chapter 2) measures the effects of vertical product differentiation of public electric vehicle (EV) charging providers on market power and consumer surplus using a unique dataset on real-world EV charging data. The empirical evidence implies that charging network expansion and technology advancement by firms engaged in quality competition lead to opposite welfare impacts, such as service quality improvement and higher prices, but the net effect is significantly positive. The second paper (Chapter 3) estimates the cost pass-through rates of retail gasoline sellers by measuring the treatment effects of a temporary cut in fuel taxes using station-level panel data. The results show that pass-through rates are not uniform but positively associated with local market competition and that the pass-through heterogeneity affects the tax-cut policy impacts. The third paper (Chapter 4) examines whether Uber price discriminates based on consumers' reservation price across routes using fare data for trips from major airports (LAX, JFK, and SFO) to hotels. This work finds that Uber engages in third-degree price discrimination, raising travelers' welfare gain for most trips.

Download or read book The Antitrust Paradox written by Robert Bork and published by . This book was released on 2021-02-22 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most important book on antitrust ever written. It shows how antitrust suits adversely affect the consumer by encouraging a costly form of protection for inefficient and uncompetitive small businesses.

Download or read book Competition Policy and the Economic Approach written by Josef Drexl and published by Edward Elgar Publishing. This book was released on 2011-01-01 with total page 361 pages. Available in PDF, EPUB and Kindle. Book excerpt: This outstanding collection of original essays brings together some of the leading experts in competition economics, policy and law. They examine what lies at the core of the .economic approach to competition law' and deal with its normative and institutional limitations. In recent years the more .economic approach' has led to a modernisation of competition law throughout the world. This book comprehensivelyexamines for the first time, the foundations and limitations of the approach and will be of great interest to scholars of competition policy no matter what discipline. Competition Policy and the Economic Approach will appeal to academics in competition economics and law, policy-makers and practitioners in the field of antitrust/competition law as well as postgraduate students in competition law and economics. Those interested in the interplay of law and economicsin the field of competition will also find this book invaluable.

Download or read book Essays on Consumer Welfare written by Pin Lin and published by . This book was released on 2017 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Internationalization Market Power and Consumer Welfare written by Yves Bourdet and published by Taylor & Francis. This book was released on 2024-10-01 with total page 383 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the years prior to this book being originally published in 1992, the study of industrial economics had been dominated by the USA. While there was a fund of theoretical and empirical knowledge relating to the US experience, this is not always relevant in the context of Europe. With its considerable national market the USA developed competition policies that differ from those in the smaller economies of European countries. This collection of essays looks at the market behaviour of an economy more open to international competition. The industrial organization of Sweden provides the ideal representation of smaller economies that can be applied to the other economies of western Europe. The contributors apply different analytical approaches to assess direct and indirect forms of market power. Some papers draw on econometric cross-sectional models exploring the scope of market power and the role of international competition. Others look at specific markets investigating the formation of market power – its costs to consumers and the role of lobbying groups and the political sphere: case studies include the domestic car, white goods, pharmaceutical goods, food, textile and air transport markets. The book also contains papers that examine the role of competition policy towards restrictive practices and mergers in curbing market power and promoting economic efficiency. This book will be of interest to those studying industrial economics and international business and marketing.

Download or read book Making Markets Work for Africa written by Eleanor M. Fox and published by Oxford University Press, USA. This book was released on 2019 with total page 249 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a book on market law and policy in sub-Saharan Africa. It shows how markets can be harnessed by poorer and developing economies to help make the markets work for them: to help them integrate into the world economy and raise the standard of living for their people while preserving their values of inclusive development. It studies particular countries and particular regions, delving deeply into the facts.

Download or read book Three Essays on the Effects of Consumer Protection Policy on Market Competition written by Davina Bird and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Competitive Competition Law An Essay Against International Cooperation written by Paul B. Stephan and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper draws on strategic trade theory to explore the conditions under which different national competition law systems can compete. I assume that each state seeks to maximize a weighted sum of producer and consumer welfare within its territory, the weighting in turn reflecting public choice considerations. I further assume the tolerance or promotion of inefficient forms of inter-firm cooperation and monopolization discourages investment in the protected economic sector and makes it less likely that firms in that sector will innovate. Working within these assumptions, the question becomes whether states have sufficient incentives to discourage inefficient inter-firm cooperation and monopolization in cases where foreign consumers bear the lion's share of the costs of monopoly rents. In a static model, individual states should prefer such arrangements, resulting in a collective action problem due to global losses of welfare. If, however, protected economic sectors bear a sanction in the form of higher costs of capital and lower rates of innovation, the collective action problem may dissipate. The critical question thus becomes the strength of the assumption that private or state-sponsored protection reduces incentives for investment and innovation. Strategic trade theory also addresses the institutional conditions for governments to engage in successful protection. I argue that the tolerance of organizational combinations that reduce global welfare but produce local benefits is simply one aspect of such protection. The core common problem involves governmental capacity to distinguish industrial structures that advance efficiency from those that reflect rent-seeking. In trade law, one asks whether governments should protect local industries to promote positive externalities. In competition law, the symmetrical question is whether governments should sanction foreign industries to deter negative externalities. I conclude by considering governmental capacity to pick industrial winners and losers. The empirical case for governmental success at distinguishing efficiency-enhancing from rent-seeking industrial structures is mixed at best. Moreover, the instances where the distinction seems easiest to make - cartelization of primary products - more often involve greater governmental involvement in the promotion of inefficient industrial structures than in their dismantling. The implication of this evidence is that it is plausible to assume that protection resulting from competition policy, like protection produced by governmental intervention, does deter investment and innovation and thus contains its own punishment.

Download or read book The Analysis Of Competition Policy And Sectoral Regulation written by Martin Peitz and published by World Scientific. This book was released on 2014-07-07 with total page 514 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume contains a selection of papers that were presented at the CRESSE Conferences held in Chania, Crete, from July 6th to 8th, 2012, and in Corfu from July 5th to 7th, 2013. The chapters address current policy issues in competition and regulation. The book contains contributions at the frontier of competition economics and regulation and provides perspectives on recent research findings in the field. Written by experts in their respective fields, the book brings together current thinking on market forces at play in imperfectly competitive industries, how firms use anti-competitive practices to their advantage and how competition policy and regulation can address market failures. It provides an in-depth analysis of various ongoing debates and offers fresh insights in terms of conceptual understanding, empirical findings and policy implications. The book contributes to our understanding of imperfectly competitive markets, anti-competitive practices and competition policy and regulation.

Download or read book Building New Competition Law Regimes written by David Lewis and published by Edward Elgar Publishing. This book was released on 2013 with total page 227 pages. Available in PDF, EPUB and Kindle. Book excerpt: ÔNearly every important country now has a competition law. It is vital to understand the institutions that drive the operation of these laws. This excellent volume provides case studies of some of the more substantial new competition authorities written by former or current top agency officials and academics closely connected with those institutions. The book highlights the fact that whilst these institutions have certain features in common, they are very much shaped by the history and circumstances of their own countries and cultures, and that any serious prescription for them needs to balance those factors against the general economic doctrines that lie behind competition law around the world. Without that understanding, regulators and those dealing with them are likely to face failure. The book points to ways of resolving those problems.Õ Ð Allan Fels, The Australia and New Zealand School of Government (ANZSOG) This detailed book focuses on the development of competition law institutions and contains case studies that examine this against the backdrop of the debate around global convergence of competition law and the limits imposed by particular national circumstances. Five of the chapters examine the development of competition law regimes in a diverse range of countries: Mexico, Hungary, South Africa, Thailand (with comparative remarks on South Korea) and Zambia. The remaining chapters examine the role of multinational institutions, particularly the International Competition Network, and the practice of and potential for regional competition law arrangements. The majority of the authors are seasoned practitioners of competition law, all of whom acknowledge the importance of convergence, while simultaneously demonstrating the limits imposed by divergent national circumstances. This carefully edited collection is a companion volume to Enforcing Competition Rules in South Africa, an account of the development of competition law institutions in South Africa, authored by David Lewis and published by Edward Elgar. Building New Competition Law Regimes will be of particular benefit to scholars, teachers and practitioners of competition law. It will also be of interest to development studies scholars, teachers and practitioners and to specialists in the countries that are the subjects of the case studies.

Download or read book The Social Network Mixtape written by Guy Aridor and published by . This book was released on 2022 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Finally, we discuss how our model highlights the importance of collecting data on user beliefs and their evolution over time both to design better recommendations and to further understand their impact.

Download or read book Consumer Versus Customer written by Pinar Akman and published by . This book was released on 2008 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: The ultimate objective of EC competition rules is arguably the enhancement of 'consumer welfare'. In EC competition law, however, 'consumer' merely means 'customer'. Not being limited to final consumers, the concept also encompasses intermediate customers. Moreover, according to the EC Commission, under Article 82EC, harm to intermediate customers is generally presumed to create harm to consumers and where intermediate customers are not competitors of the dominant undertaking, there is no requisite to assess the effects of conduct on users further downstream. This paper questions the appropriateness of this presumption in light of recent advances in economics, specifically that of vertical restraints and in particular non-linear pricing. It uses this literature to show that there are many instances where an increase (decrease) in 'customer welfare' does not cause an increase (decrease) in 'consumer welfare'. In these cases, the presumption is devoid of economic justification and likely to lead to decisional errors. The paper concludes that if the law is to serve the interests of 'real' consumers, the EC Commission should reconsider this presumption and its interpretation of the 'consumer' in 'consumer welfare'. Until then, it remains questionable and objectionable whose interests EC competition law and in particular, Article 82EC, serve.

Download or read book The Development of Consumer Welfare And Its Application in the Competition Law of the European Community and Lithuania written by Jurgita Malinauskaite and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In today's competition law context, there is widespread agreement that "consumer welfare" is the guiding principle of competition law enforcement. This article will analyse to what extent consumer welfare plays a role in the assessment of anti-competitive effects in the markets of the European Community and Lithuania.

Download or read book The Controversies of the Consumer Welfare Standard written by Kati Cseres and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This article deals with the consumer welfare standard in competition law enforcement. It explores the inherent economic and legal 'geography' of this notion by looking beyond the borderlines of competition rules. While the consumer welfare standard has been widely discussed as a legal and economic notion of competition law, this article approaches this concept from a new angle by making use of its interpretation in consumer law. In competition law the primary role of the consumer welfare standard is to verify the goals of competition policy and to delineate the general legal framework of competition law enforcement by establishing the basis for the standard of proof. In consumer law consumer welfare stands for correcting market failures in order to improve the consumer's position in market transactions. Consumer welfare is concerned with efficient transactions and cost-savings but it is also directed at social aspects of the market such as the safety and health of consumers. Consumer welfare is an economic concept with relevant socio-political and legal implications. However, the economic rationale seems to be often overridden by a political rationale, which is to legitimize the enforcement work of competition authorities' and to reflect society's preferences on income distribution. This article addresses the implications of the consumer welfare standard in welfare economics, political economy and law. The analysis points out to what extent the enforcement of competition law can prevent (final) consumer harm and make (final) consumers better off and what the inherent limits of the promotion of consumer interests are in competition law. Such comparisons clarify and identify the function of this standard and delineate the borderlines between the two disciplines, the possible gaps and unnecessary overlaps they create in regulating markets.

Download or read book It s Time to Acknowledge the Socially Conscious Consumer in the Room written by Richard Bunworth and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The modern consumer welfare standard in competition law is based on encouraging the most efficient market ordering in pursuit of lower prices for consumers. The prominence of efficiency and its success as a metric in competition law is based on the perception of it being an objective yardstick. Further, its relative simplicity has resulted in it being favoured over a more complex standard that would include broader considerations.However, despite its prominence, the consumer welfare standard has faced increased criticism, particularly as a result of rapidly concentrating markets and the inability of competition law to address this. In particular, critics have pointed to the perceived fixation on price within the standard, to the exclusion of other factors deemed important by consumers when making purchasing decisions.This paper seeks to set out an alternative standard to be applied in competition law. It attempts to extract the common values of citizens across the EU from the Treaties in order to establish those factors which the Commission should be obliged to take into account when considering competition law matters. This has led the author to develop the socially conscious consumer standard, as described in the paper. Further, there is a brief exploration of the evidence that would be required under the new standard in order to demonstrate its potential operability in practice.

Download or read book Essays on the Economic Role of Government written by Warren J. Samuels and published by Springer. This book was released on 1992-06-18 with total page 374 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contains a collection of articles applying fundamental concepts of power, property, regulation and the compensation principle to contemporary topics: the wealth maximization hypothesis, the Coase theorem, public utility regulation, and other topics in law and economics.