Global Competition Law and Economics

Overview

Antitrust law is now a truly global phenomenon, with markets becoming increasingly global, mergers requiring approval in several different jurisdictions, cartels in one nation affecting supply in others, and countries increasingly entering into treaties with each other about the content or enforcement of competition law. Lawyers and lawmakers cannot rely on understanding only the antitrust and competition law of their home country. Modern antitrust law is also different because it now reflects an increasingly ...
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Global Competition Law and Economics

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Overview

Antitrust law is now a truly global phenomenon, with markets becoming increasingly global, mergers requiring approval in several different jurisdictions, cartels in one nation affecting supply in others, and countries increasingly entering into treaties with each other about the content or enforcement of competition law. Lawyers and lawmakers cannot rely on understanding only the antitrust and competition law of their home country. Modern antitrust law is also different because it now reflects an increasingly economic approach to analyzing antitrust and competition policy. This innovative and acclaimed book on global antitrust law - now in its second edition - is truly the only comparative and economically sophisticated casebook on the market. For scholars and students in all jurisdictions that have competition laws, this casebook provides an in-depth analysis of the two major global antitrust regimes in the world, as well as a summary of selected national antitrust laws. As such, it will also serve as a useful reference for practitioners, competition officials, and policy-makers interested in competition law.
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Product Details

  • ISBN-13: 9781849460446
  • Publisher: Hart Publishing UK
  • Publication date: 8/1/2011
  • Edition number: 2
  • Pages: 1324
  • Product dimensions: 6.82 (w) x 9.60 (h) x 1.73 (d)

Table of Contents

Preface v

Acknowledgements vii

1 Introduction 1

A The Framework of Legal Issues Raised by the Basic Antitrust Economics 1

B The Remedial Structure 4

1 An Overview of US Antitrust Laws and Remedial Structure 4

2 An Overview of EC Competition Law and Remedial Structure 36

3 A Brief Overview of Antitrust Laws and Remedies in Other Nations 53

2 which Horizontal Agreements Are Illegal? 55

A Relevant Laws And Basic Legal Elements 55

1 Relevant US Laws and General Legal Standards 55

2 Relevant EC Laws and General Legal Standards 59

3 Other Nations 65

B Horizontal Price Fixing 66

C Horizontal Output Restrictions 97

D Horizontal Market Divisions 114

E Horizontal Agreements Not To Deal With Particular Firms 126

1 Boycotts by Unrelated Rivals 127

2 Exclusions and Expulsions from a Productive Collaboration of Rivals 134

F Are Social Welfare Justifications Admissible? 150

G Does Intellectual Property Law Justify an Anticompetitive Restraint? 191

H Buyer Cartels 213

3 What Unilateral Conduct Is Illegal? 227

A Relevant Laws and Basic Legal Elements 227

1 US Laws and Legal Elements 227

2 EC Law and Legal Elements 232

3 Other nations 235

B The Power Element 237

1 Economic and Legal Tests of Market Power Generally 237

2 Legal Tests of Monopoly Power or a Dominant Position 244

3 Market Definition 254

4 Aftermarkets 288

C Second Element: Anticompetitive Conduct 300

1 General Standards 300

a The Conduct Element for Proving Monopolisation Under US Antitrust Law 300

b The Conduct Element for Proving Abuse of Dominance Under EC Competition Law 302

c The Conduct Element in Other Nations 314

2 Predatory Pricing 314

a Below-CostPredatory Pricing 315

b Above-Cost Predatory Pricing 344

3 Excessive Pricing 360

Excessive Pricing in Other Nations 367

4 Exclusions from Owned Property - Unilateral Refusals to Deal 367

5 Price Squeezes 418

D Causal Connection Between First and Second Elements Required? 434

E Attempted Monopolisation 441

4 Vertical Agreements that Restrict Dealing with Rivals 451

A Introduction 451

B Exclusive Dealing 454

Possible Anticompetitive Effects 455

Possible Redeeming Efficiencies 457

C Tying 498

Possible Anticompetitive Effects 498

Possible Redeeming Efficiancies 504

US Law on Tying 505

EC Law on Tying 508

Other Nations 508

D Loyalty and Bundled Discounts 570

The Nature of Loyalty Discounts 570

The Nature of Bundled Discounts 572

Possible Anticompetitive Effects 572

Possible Efficiencies 578

The Ambiguous Effects of Enhanced Price Discrimination 579

Conclusion 579

5 Agreements and Conduct that Arguably Distort Downstream Competition in Distributing a Supplier's Products 637

A Introduction 637

B Intrabrand Distributional Restraints on Resale 641

1 Vertical Agreements Fixing Minimum Resale Prices 641

2 Vertical Nonprice Restraints on Distribution 650

3 Vertical Maximum Price Fixing 672

4 How to Characterize Agreements 679

a Are Dual Distribution Agreements Vertical or Horizontal? 679

b Should Vertical Agreements to Terminate Dealers because of Price Cutting Be Deemed Vertical Price-fixing or Vertical Nonprice Agreements 682

c Vertical Agreements to 'Boycott' Rival of a Dealer Without Any Procompetitive Justification 686

C Price Discrimination that Arguably Distorts Downstream Competition 689

6 Proving an Agreement or Concerted Action 715

A Are the Defendants Separates Entities? 715

B Standards for Finding a vertical Agreement 724

C Standards for Finding a Horizontal Agreement or Concerted Action 734

1 Parallel Conduct Equally Consistent with and Independent Motive 736

2 Parallel Conduct that would Be unprofitable if Not Engaged in by Firms 747

a Where Parallel Conduct is Implausible With out an Explicit agreement 747

b Where parallel Conduct Follows Common Invitations or Secret Mettings 762

c Where Parallel Conduct Can Be Explained By Oligopolistic price interdependence 767

3 Agreements or Practices that Facilitate Oligopolistic Price Coordimation 773

7 Mergers 799

A Horizontal Mergers 806

1 Unilateral Effects 808

2 Oligopolistic Effects and Collective Dominance 837

3 Entry Barriers 871

4 Efficiencies and Weighing the Equities 887

5 The Failing Firm Defence 919

6 The Relevance of Buyer Power, Sophistication, or Views 929

a Mergers Between Buyers that Create Buyer power 929

b Should Mergers Between Sellers Be Deemed Constrained by Buyer power? 934

c Should Buyer Views Alter Assessments of Mergers Between Sellers? 942

B Vertical Mergers 945

C Conglomerate Mergers 963

Eliminating Potential Competition 963

Enabling Post-Merger Exclusionary Conduct 965

When to Block Merger Based on a Risk of Post-Merger Misconduct 989

8 Markets that Span Multiple Antitrust Regimes 1011

A Extraterritorial Conduct Affecting Domestic Commerce 1015

B Special Treatment of Extraterritorial Conduct Affecting Exports 1057

C Anticompetitive Conduct Involving Foreign Sovereigns 1065

D The Trade-Antitrust Intersection 1080

E International Cooperation In Antitrust Enforcement 1091

F The Prospects For International Antitrust law 1105

Index 1113

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