The vertical integration of producers of complementary products or services results in no loss of direct competition as they operate at different levels of the
Tag: Economics
Is economics helpful when it comes to cartels?
Economics implies that cartels are inherently unstable and so should be short-lived because they price above the Nash equilibrium. However, the evidence is cartels are
When the market definition/market share approach does not work to assess market power
Traditionally, competition authorities start their assessment by identifying the competitive scene, i.e. the relevant market, which includes the firm’s product and potential substitutes. They then
Economics and Competition Law
“Economics is the study of how society decides what, how and for whom to produce.” Begg, Fischer and Dornbusch “A lawyer who has not studied
