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Full-Text Articles in Law
Size Does Matter: General Policy Prescriptions For Optimal Competition Rules In Small Economies, Michal Gal
Size Does Matter: General Policy Prescriptions For Optimal Competition Rules In Small Economies, Michal Gal
Michal Gal
For the most part, competition policy literature focuses on large economies. Yet the economic paradigms on which such competition policies are based do not necessarily apply to the many small market economies that exist around the world. As this paper argues, the size of an economy necessarily affects the optimal competition policy that should be adopted by it. The paper demonstrates the effects of market size both on rules of thumb used in competition policy as well as on more general policy prescriptions, such as policy goals, trade-offs and remedial tools. The implications of this article extend beyond domestic competition …
Reducing Rivals Prices: Government-Supported Mavericks As New Solutions For Oligopoly Pricing, Michal Gal
Reducing Rivals Prices: Government-Supported Mavericks As New Solutions For Oligopoly Pricing, Michal Gal
Michal Gal
One of the most important market imperfections in modern capitalism and surprisingly one of the most under-regulated is oligopoly pricing (conscious parallelism). Only few suggestions have been made over the years to regulate oligopoly pricing. All suggestions pose serious obstacles to their efficient application. Accordingly, oligopoly pricing is not regulated. It is left to the workings of the market (or pure luck), while acknowledging the marketis limited regulatory force. This article proposes a novel method for regulating oligopoly pricing by way of introducing a government-supported maverick into an oligopolistic industry for a limited time. The maverick will price its products …
Antitrust And International Regulatory Federalism, Andrew T. Guzman
Antitrust And International Regulatory Federalism, Andrew T. Guzman
Andrew T Guzman
In this Essay, Andrew Guzman proposes internationalization of antitrust law to supplant current methods of antitrust regulation across national borders. Specifically, instead of relying on local regulation, bilateral agreements between states, or a choice-of-law rule for antitrust enforcement, countries should adopt universal substantive standards. Moreover, Guzman recommends the World Trade Organization (WTO), which already employs a dispute resolution mechanism, as the governing forum for international antitrust issues. There, states can negotiate transfer payments in one international transaction to achieve agreement in another. Upon evaluating Professor Eleanor Fox’s proposal of a stand-alone World Competition Forum that would specialize exclusively in international …