Wednesday, January 4, 2012
Posted by D. Daniel Sokol
Stephen Peter King, Faculty of Business and Economics, Monash University, Economic Regulation Authority of Western Australia, has spoken on Competition Regulation in Australia: A Report Card (the 2011 Colin Clark Lecture).
ABSTRACT: In this paper I present a 'report card' on the current state of Australia’s competition laws, focusing on antitrust laws. I consider the three core antitrust provisions in the Australian Competition and Consumer Act (2010) – the laws against cartels, abuse of market power and anticompetitive mergers. In each of these areas, particularly cartels, I find that Australia’s laws could be significantly improved. I also consider more innovative reforms to Australia’s competition regulations, to improve the transparency of pricing and to reduce customer switching costs. I note that these reforms have been broadly successful.