Antitrust & Competition Policy Blog

Editor: D. Daniel Sokol
University of Florida
Levin College of Law

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Thursday, July 28, 2011

Competition Policy And The Economic Approach Foundations and Limitations

Posted by D. Daniel Sokol

Josef Drexl, Director, Max Planck Institute for Intellectual Property and Competition Law, Munich, Germany; Wolfgang Kerber, Professor of Economics, Philipps-Universitat Marburg, Germany; and Rupprecht Podszun, Senior Research Fellow, Max Planck Institute for Intellectual Property and Competition Law, Munich, Germany have edited Competition Policy And The Economic Approach  Foundations and Limitations.

BOOK ABSTRACT: This outstanding collection of original essays brings together some of the leading experts in competition economics, policy and law. They examine what lies at the core of the ‘economic approach to competition law’ and deal with its normative and institutional limitations. In recent years the ‘more economic approach’ has led to a modernisation of competition law throughout the world. This book comprehensively examines for the first time, the foundations and limitations of the approach and will be of great interest to scholars of competition policy no matter what discipline.

Table of Contents:

Introduction
Rupprecht Podszun

PART I: THE GOALS OF COMPETITION POLICY
1. Consumer Welfare and Competition Policy
Gregory J. Werden

2. Consumer Welfare, Total Welfare and Economic Freedom – On the Normative Foundations of Competition Policy
Viktor J. Vanberg

3. Consumer Welfare, Economic Freedom and the Moral Quality of Competition Law – Comments on Gregory Werden and Victor Vanberg
Daniel Zimmer

PART II: MERITS AND CHALLENGES OF MODERN INDUSTRIAL ECONOMICS
4. Current Issues in Antitrust Analysis
Daniel L. Rubinfeld

5. Using Economics for Identifying Anticompetitive Unilateral Practices
Michele Polo

6. Modern Industrial Economics: Open Problems and Possible Limits
Oliver Budzinski

7. Modern Industrial Economics Revisited – Comments on Daniel Rubinfeld, Michele Polo and Oliver Budzinski
Laurence Idot

PART III: COMPETITION POLICY AND EVOLUTIONARY AND INNOVATION ECONOMICS
8. Industrial Dynamics and Evolution – The Role of Innovation, Competences and Learning
Uwe Cantner

9. Competition, Innovation and Maintaining Diversity through Competition Law
Wolfgang Kerber

10. The Impact of Innovation – Comments on Uwe Cantner and Wolfgang Kerber
Andreas Heinemann

PART IV: COMPETITION POLICY AND BEHAVIOURAL AND EXPERIMENTAL ECONOMICS
11. Bounded Rationality and Competition Policy
Justus Haucap

12. Using Experimental Economics to Understand Competition
Bart J. Wilson

13. Competition as a Socially Desirable Dilemma – Theory v. Experimental Evidence
Christoph Engel

14. Introducing More Features of Real Life into the Economists’ World of Theoretical Models – Comments on Justus Haucap, Bart Wilson and Christoph Engel
Andreas Fuchs

PART V: THE POLITICAL ECONOMY OF COMPETITION POLICY
15. Normative and Institutional Limitations to a More Economic Approach
Dirk Schroeder

16. Competition Agencies, Independence, and the Political Process
William E. Kovacic

17. On the (a)political Character of the Economic Approach to Competition Law
Josef Drexl

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