petition Law
Associate professor Olav Kolstad
Department of Private Law
What petition law?
Competition law exists to protect the process petition in a free market economy
A system where the allocation of resources is determined solely by supply and demand in free petition wanted because of the market result it produces
Efficiency
Low prices
petition rules limits the freedom of the market players to protect the process petition
Competition policy petition law
Competition policy
Describes the way in which governments take measures to petitive market structures and behaviour
Formulation of petition policy and petition law
The legal rules implementing petition policy
Law and economics
petition policy through case law
Economic efficiency- main objective petition policy
Competition gives the best utilisation of scarce resources
petition v monopoly
petition
Pareto optimal use of resources
None could be made better of without someone being made worse of
Consumer welfare maximized
Productive efficiency
Constant pressure on costs
Cost reductions is the only means whereby firms can stay in business and increase profits
Monopoly
Leads to an inefficient allocation of resources
Quantity supplied less the quantity which would be supplied in petitive market
Deadweight loss
Loss of consumer surplus which is not turned into profit for the producer
X-efficiency
petition, monopoly petition in the real world
petition
Other goals petition policy?
Preservation of liberty
petition
Promoting small and medium sized undertakings
Socio-political issues
Social policies
Employment
Industrial policy
Environment
The objectives of petition law
ECJ: Teleological interpretation
Article 2 EC Treaty:
munity shall have as its task, by establishing mon market and an economic and ary union and by implementing mon policies or activities referred to in Articles 3 and 3a, to promote throughout munity a harmonious and balanced development of economic activities, a high level of employment and of
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