The Role of Economic Analysis in the EC Competition Rules:The European School
Description:... In order to apply EC competition rules meaningfully and to good purpose, some knowledge of economic analysis is essential. the first edition of this book, with its clear explication of the relevant tools of economic analysis, quickly became an important resource for lawyers everywhere charged with compliance with EC competition law as articulated in Article 81, Article 82, and the Merger Regulation. This updated and revised second edition has been anticipated, and will be widely welcomed.
The second edition focuses on the emerging `European School' and the first experiences in the application of this more economics-based approach. Although clearly written for a legal audience, the book is interdisciplinary, integrating both law and economics in such a way that economics in competition proceedings becomes easier to understand for people not trained in economic theory.
Beginning with a brief but comprehensive presentation of the relevant competition rules and the goals of European competition policy, the book goes on to discuss the various economic mainstream theories, culminating in the European School, familiarity with which has become crucial to the modern application of EC competition law.
Later chapters address the increasing importance of economic analyses and the approach applied by the Commission and especially the EC courts, whose judgements illustrate the legal basis for this more economics-based approach. the book continues with a detailed description of European School theories and applications, particularly with respect to vertical and horizontal agreements and collective dominance. In addition, the book provides solid guidance on the definition of the relevant antitrust markets, with an in-depth description of the appropriate methodology, the hypothetical monopolist test.
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