This volume examines the controversy surrounding the use of competition law to combat excessive pricing. While high or monopolistic pricing is not regarded as an antitrust violation in the US, employing abuse of dominance provisions in competition laws to fight excessive pricing has gained popularity in some BRICS jurisdictions and a number of EU-member states in recent years. The book begins by discussing the economic arguments for and against the prohibition of excessive or unfair prices by firms with market power. It then presents various country studies, focusing on developed countries (such as the UK and Israel) and on the BRICS countries, to highlight various practical challenges involved in recognizing excessive prices as abusive conduct on the part of dominant firms, including how to define, measure and identify excessive prices. The contributors also discuss other policy options that can be used to fight excessive prices in order to protect consumer welfare.

The distinguished contributors in this volume provide a variety of essays, which are written in honor of Emmanuel Drandakis. These essays fall into four uniform areas of economics: economic growth, general equilibrium, labor economics and game theory and applications.The editors focus on a select set of issues that stand high on the agenda of academic research. They provide fresh insights and approaches to the analysis of these issues, and thus open up wider avenues for our understanding of the dilemmas posed for theory and policy. Readers are offered new empirical evidence on such thorny social problems as, for example, unemployment, the intergenerational transmission of human capital and the response of wages to price and endowment changes. These contributions, in conjunction with the realisation that the papers are written by some of the most distinguished economists in the respective areas, make the volume an attractive addition for all who are interested in the contemporary research and teaching of economics.

This book presents economic theories that seek to explain the prevalence of differentiated products in market economies. It uses these theories to derive market equilibria and to compare these to social optima for both horizontally and vertically differentiated products. The implications of product differentiation for market structure and power, strategic entry deterrence and international trade are all examined.

This state-of-the-art volume highlights important recent research contributions covering all the significant themes surrounding competition policy and regulation, including financial regulation and multisided markets. Bringing scholars and policy makers to the frontiers of research and addressing the critical issues of the day, the book presents original important new theoretical and empirical results. The distinguished contributors include: P. Agrel, K. Alexander, J. Cremer, X. Dassiou, G. Deltas, F. Etro, L. Filistrucchi, P. Fotis, M. Gilli, J. Harrington Jr, T. Huertas, M. Ivaldi, B. Jullien, V. Marques, M. Peitz, Y. Spiegel, E. Tarrantino and G. Wood. Recent Advances in the Analysis of Competition Policy and Regulation will prove insightful for academic economists, consultants and policy makers interested in these fields. Contributors: P.J. Agrell, K. Alexander, G. Biglaiser, E. Calvano, C. Cambini, J. Cremer, X. Dassiou, G. Deltas, F. Etro, L. Filistrucchi, R. Fiocco, A. Fortunato, P.N. Fotis, A. Gautier, M. Gilli, D. Glycopantis, J.E. Harrington Jr., T.F. Huertas, M. Ivaldi, B. Jullien, Y. Katsoulacos, T.J. Klein, J. Koenen, V. Marques, T.O. Michielsen, S. Mitraille, C. Muller, M. Peitz, L. Rondi, A. Salvo, I. Soares, Y. Spiegel, E. Tarantino, H. Vasconcelos, G. Wood

This volume examines the controversy surrounding the use of competition law to combat excessive pricing. While high or monopolistic pricing is not regarded as an antitrust violation in the US, employing abuse of dominance provisions in competition laws to fight excessive pricing has gained popularity in some BRICS jurisdictions and a number of EU-member states in recent years. The book begins by discussing the economic arguments for and against the prohibition of excessive or unfair prices by firms with market power. It then presents various country studies, focusing on developed countries (such as the UK and Israel) and on the BRICS countries, to highlight various practical challenges involved in recognizing excessive prices as abusive conduct on the part of dominant firms, including how to define, measure and identify excessive prices. The contributors also discuss other policy options that can be used to fight excessive prices in order to protect consumer welfare.

This contributed volume focuses on competition policy enforcement in BRICS and developing counties. It examines the role and application of economic analysis and evidence in law enforcement procedures, as well as their influence on competition authorities' policy-making. The contributors also address topics such as recent developments in competition law and practice, institutional design, indicators of performance in enforcement, the incorporation of public interest concerns in Competition Authority objectives, procedural fairness, procurement procedures and compulsory licensing.

There are few industries in modern market economies that do not manufacture differentiated products. This book provides a systematic explanation and analysis of the widespread prevalence of this important category of products. The authors concentrate on models in which product selection is endogenous. In the first four chapters they consider models that try to predict the level of product differentiation that would emerge in situations of market equilibrium. These market equilibria with differentiated products are characterised and then compared with social welfare optima. Particular attention is paid to the distinction between horizontal and vertical differentiation as well as to the related issues of product quality and durability. This book brings together the most important theoretical contributions to these topics in a succinct and coherent manner. One of its major strengths is the way in which it carefully sets out the basic intuition behind the formal results. It will be useful to advanced undergraduate and graduate students taking courses in industrial economics and microeconomic theory.

This contributed volume focuses on competition policy enforcement in BRICS and developing counties. It examines the role and application of economic analysis and evidence in law enforcement procedures, as well as their influence on competition authorities' policy-making. The contributors also address topics such as recent developments in competition law and practice, institutional design, indicators of performance in enforcement, the incorporation of public interest concerns in Competition Authority objectives, procedural fairness, procurement procedures and compulsory licensing.