The Economics of Welfare Standards in Antitrust

Joseph Farrell, Michael Katz, Nov 01, 2006 There has been considerable debate concerning whether consumer surplus or total surplus should be the welfare standard for antitrust. This debate misses two critical issues. First, antitrust is not straightforwardly welfarist. It does not maximize but protects, and it does not forbid all actions that seem likely to […]

Welfare Standards and Merger Analysis: Why Not the Best?

Ken Heyer, Nov 01, 2006 The author argues for using the total welfare standard, rather than the more commonly employed consumer welfare standard. In doing so, Heyer responds to three broad objections that have been raised. One is that use of a total welfare standard conflicts with antitrust law, or at least with legal precedent. […]

Walter Eucken and Ordoliberalism: An Introduction from a Consumer Welfare Perspective

Christian Ahlborn, Carsten Grave, Nov 01, 2006 This article serves two purposes, (i) to introduce The Comparative Order and its Implementation, a seminal article published in 1949 by Walter Eucken, ordoliberalism´s, or the Freiburg School´s, most prominent scholar, and (ii) to compare some ordoliberalist competition policy recommendations to those of a consumer welfare standard.

Review of O´Donoghue and Padilla, The Law and Economics of Article 82 EC

Richard Whish, Nov 01, 2006 The extent to which EC competition law has been modernized in the last decade is really quite breathtaking. Most radical of all, perhaps, was the Modernization Regulation, a product of the Commission being prepared to think the unthink-able: to dismantle the notification system established in 1962 and in its place […]

The Economics of State Aid Control: Some Remarks

Mathias Dewatripont, Nov 01, 2006 This short comment discusses the rationale for State aid control at the level of the European Community and then turns to the State Aid Action Plan and its application to aid to Research, Development, and Innovation. It discusses the merits of a refined economic approach for better targeting purposes and […]

Some Reflections on the European Commissions State Aid Policy

Philip Lowe, Nov 01, 2006 This article first sets out the main economic and legal requirements for a competition enforcement system to be effective, as well as the main building blocks upon which the effectiveness of any such system depends. It then explains how the Commission is currently implementing these requirements in its reform of […]

The State Aid Action Plan: A Bold Move or a Timid Step in the Right Direction?

Frederic Jenny, Nov 01, 2006 This paper explores the current state of discussion on the reform of EC State aid policy. It analyzes the responses to the European Commissions consultation document on State aid, presents the main areas of dissatisfaction, and the extent to which answers to the expressed dissatisfaction can be found in the […]

An Economic Approach to Article 82

Jordi Gual, Anne Perrot, Michele Polo, Patrick Rey, Klaus Schmidt, Rune Stenbacka, Apr 01, 2006 This report argues in favour of an economics-based approach to Article 82, in a way similar to the reform of Article 81 and merger control. In particular, the authors support an effects-based rather than a form-based approach to competition policy. […]

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