Regulation and competition policy are two alternative modalities by which the state intervenes in the market. In order for either to deliver welfare gains, there must first be a pre-existing market failure. We first present different varieties of market failures and identify those for which...

This paper analyses and discusses the regulation of the DNS, i.e. the system of Internet unique identifiers. There is a widespread belief that this industry needs a regulator, be it a private one in which all stakeholders could be represented, or rather a public international one in which all...

The rise of the platform economy has been the subject of celebration and critique. Platform companies like Uber, Airbnb, and Postmates have been rightfully celebrated as positively disruptive, introducing much–needed competition in industries that have been otherwise over–mature and...

In this Article we focus upon an area in which greater convergence of U.S. policy with the practice of many foreign countries is long overdue: the treatment of public policies that suppress competition. Whereas the European Union (“EU”) and numerous other jurisdictions have taken strong...

Harold Demsetz once claimed that 'economics has no antitrust relevant theory of competition.' Demsetz offered this provocative statement as an introduction to an economic concept with critical implications for the antitrust enterprise: the multi-dimensional nature of competition. Competition...

The Sherman Act establishes free competition as the rule governing interstate trade. Banning private restraints cannot ensure that competitive markets allocate the nation’s resources. State laws can pose identical threats to free markets, posing an obstacle to achieving Congress’s goal to...

If one or two cellular carriers gain control of enough spectrum, they may be able to prevent current and potential rivals from getting the spectrum needed to compete effectively. Thus, regulators typically attempt to protect competition through some form of limit on how much spectrum any one...

The oligopolistic structure of the open pension funds in Poland implies homogeneity of their behaviors on the market. In particular, it influences low competitive pressure between the funds. This Article draws attention to poor competitiveness of the funds, both in the area of price competition,...

This paper empirically evaluates the price effects of the merger of two major book retail chains in the UK: Waterstone's and Ottakar's. We employ differences-in-differences techniques and use a rich dataset containing monthly scanner data information on a sample of 200 books sold in 60 stores in...

Brunei must enact an effective competition policy in order to participate as a member in regional trading blocs like the APEC, ASEAN and the Trans-Pacific Partnership. What effect would Brunei's Competition Order have on Brunei - and specifically its small and medium enterprises or SMEs (the...