By R. S. Khemani, World Bank, Organisation for Economic Co-operation and Development
A dynamic and aggressive setting, underpinned through festival legislation coverage, is a necessary attribute of profitable marketplace economies. to meet the transforming into call for for info on present methods and practices in pageant legislations coverage, the undertaking "Framework for the layout and Implementation of festival Law-Policy" used to be initiated by way of the area financial institution, with participation through OECD. This resulting quantity displays the most matters that come up in layout and implementation of festival legislation and coverage with a purpose to support international locations in constructing an procedure that matches their very own wishes and prerequisites. The perspectives articulated during this ebook recommend that the management and enforcement of festival legislations coverage should still assign the best significance to fostering financial potency and purchaser welfare.
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Extra resources for A framework for the design and implementation of competition law and policy
He holds degrees in economics and law from the University of Michigan, Ann Arbor, and Stanford University and is a member of the law bars of California and the District of Columbia. S. Department of Justice. In this position he supervises the work of division economists on antitrust investigations and is one of the coordinators of a joint Department of Justice and Federal Trade Commission program involving technical cooperation with competition authorities in developing countries and transition economies.
If, on the other hand, the defined market is larger and the enterprise's share is small, it might not be considered dominant. Where a merger is involved, the relevant market might include both the merging firms, in which case competition is more likely to be hurt. If only one firm is involved, there is less cause for concern. This chapter presents a theoretical approach to market definition that, although difficult to apply rigorously, provides a framework for investigations. To define a relevant market is to describe the context for the exercise of market power-the ability of an enterprise to profitably raise price above competitive levels for a significant period of time.
Department of Justice. She is a graduate of King Hall School of Law at the University of California, Davis. Page 1 Chapter 1 Objectives of Competition Policy Broadly defined, competition in market-based economies refers to a situation in which firms or sellers independently strive for buyers' patronage in order to achieve a particular business objective, for example, profits, sales, or market share. Competition in this context is often equated with rivalry. Competitive rivalry may take place in terms of price, quantity, service, or combinations of these and other factors that customers may value.