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The Effective Approaches Of International Law Regarding Cartels, Sanghyun Lee

Theses and Dissertations

A free market system based on both freedom of contract and protection of property principles operates challenged by demand and supply. Under a free market system, demand by consumers and supply by producers determine the price and quantity of a product in a market. Competition policy leads suppliers to compete among themselves in sales terms or conditions. Competition toward attracting consumers through lower prices is an important principle for working a free market. Competition law is supposed to protect the functioning of the market.

However, it is against competition law principle for competitors to conspire to fix prices or to …