In this paper I use basic game theory tools to explore the logical consequences of some fundamental legal definitions of European and American antitrust. In a competition game, in which there is a true monopolistic/dominant firm (MDF) and competition law is respected, thus limiting the...

Economists sometimes decry the persistence with which firms set prices above marginal cost and thus, according to the economists, fail to maximize profits. But it is the economists who have it wrong – first, because variable accounting costs are not always a good proxy for marginal economic...

In this paper I describe a method for analyzing mergers in industries in which it is more cost effective to close capacity than to idle it. The method can be used to define markets, to assess the likelihood of competitive effects and to evaluate divestitures. I also discuss the method’s data...

This paper examines the strength of product market competition and economic performance in Canada and discusses way in which the institutional framework governing competition policy could be improved. Competitive forces are comparatively strong and administrative and economic regulations...

Maintaining rapid economic growth depends increasingly on productivity gains, particularly in the service sector. Competition has an important role to play in achieving such gains. However, Korea’s development strategy has tended to weaken competition and has left a legacy of government...

This paper assesses what role product market competition and regulatory reforms may have played in the performance of the British economy over the past decade. Competitive pressures appear to be relatively strong in the United Kingdom, with regulations inhibiting competition and barriers to...

This paper assesses what role product market competition and reforms may have played in the performance of the Dutch economy over the past decade, and discusses what further product market reforms might contribute to enhancing growth. In general, competitive pressures appear to be relatively...

In this paper I use basic game theory tools to explore the logical consequences of some fundamental legal definitions of European and American antitrust. In a competition game, in which there is a true monopolistic/dominant firm (MDF) and competition law is respected, thus limiting the...

Competition policy investigations usually commence with a definition of the relevant product and geographic market. The relevant market provides a first evaluation of competitive conditions and allows for the calculation of market shares, which aids in the assessment of firms’ market power....