USING COMPETITION LAW CASES TO TEACH ECONOMICS. Sir John Vickers Chairman, OFT DEBE Conference Cambridge, 1 September 2005. Competition law and economics. competition law is fundamental to operation of market economy cases can bring economics to life and show it at work
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Sir John Vickers
Cambridge, 1 September 2005
non-coordinated: e.g. worse Bertrand equilibrium
coordinated: more likely tacit collusion
foreclosure: to guard/extend(?) market power
profit sacrifice / no business sense
exclusion of as-efficient rivals
* Based on Motta, Competition Policy, 2004, pp 511-523. And see JEP Spring 2001.
Sir John Vickers, Chairman, OFT