This paper considers four examples of apparent progress in economics, each of which proved illusory. In each case the problem stemmed from factual errors. The cases relate to the treatment by Arrow of the incentives to finance basic research, the obliteration of industrial economics by game...

Fast moving consumer goods (FMCGs) constitute a large part of consumers' budget in all countries. The retail sector for FMCGs in Turkey is in the process of a drastic transformation. New, "modern" retail formats, like chain stores and hyper/supermarkets, have rapidly diffused in almost all major...

The EU is currently re-conceptualizing the goals of competition law and their place within the EC Treaty. Whereas the Draft Reform Treaty is emphasizing the weight of public policy goals vis-à-vis the goal of undistorted competition, the EU Commission has made an effort to remove...

When the home country introduces a patent law after the winner of the patent race is known the country's welfare may rise only if the domestic firm wins. If the home country decides before the patent race ends, the welfare may be increased when the probability that the domestic firm wins is...

This paper studies the convergence and the remaining divergences of European competition and sector regulation in the electronic communications sector. It shows that (1) antitrust authorities are justified to intervene more intensively in the electronic communications sector than in the other...

? L13.

In 1999 the Italian Competition Authority (ICA) stated that the regulation of the Italian League allowing it to sell football broadcasting rights collectively was a restrictive agreement. The League changed its regulation and a new form of revenue redistribution compatible with individual...

The introduction of the EC Merger Control Regulation in September 1990 plugged a serious gap in European competition policy. This paper examines aspects of its record over the first ten years. These include the changing scope of the policy and the much higher level of activity than originally...

The purpose of this paper is to analyse the effect of upstream cost asymmetries on the behavior of integrated firms. The model highlights the respective roles of strategic considerations and of cost considerations in the determination of an integrated firm's interaction with the non integrated...

This is a survey of the economic principles that underlie antitrust law and how those principles relate to competition policy. We address four core subject areas: market power, collusion, mergers between competitors, and monopolization. In each area, we select the most relevant portions of...