Bruce Wardhaugh
eBook, PDF

Competition, Effects and Predictability (eBook, PDF)

Rule of Law and the Economic Approach to Competition

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In the US and EU, legal analysis in competition cases is conducted on a case-by-case approach. This approach assesses each particular practice for both its legality and its welfare effects. While this analytic method has the merits of 'getting the result right' by, inter alia, reducing error costs in antitrust adjudication, it comes at a cost of certainty, predictability and clarity in the legal principles which govern antitrust law. This is a rule of law concern. This is the first book to explore this tension between Europe's 'More Economic Approach', the US's Rule of Reason, and the Rule of ...