EAN: 9783030116101

NEW DEVELOPMENTS IN COMPETITION LAW AND ECONOMI...

This book further develops both the traditional and the behavioural approach to competition law
and applies these approaches to a variety of timely issues. It discusses several fundamental
questions regarding competition law and economics  and explores the applications of competition
law and economics. In turn  the book analyses the interplay of intellectual property rights and
patents in various aspects of competition law  and investigates the impacts that developments
in information technology  such as big data analytics  have on competition law. The book also
discusses the impact of energy law reforms on energy markets from a competition law
perspective. Competition law is a classic field of economic analysis. This is largely due to
the fact that competition law uses terms such as market  price  and competition and must
therefore rely on economic know-how and analyses. In the United States  economic analysis has
greatly influenced not just the scholarship on antitrust law  but also judicial decisions and
agency enforcement. Antitrust law and economics are based on the traditional paradigm of
neoclassical economics  which relies on the assumption that the market players  i.e. consumers
and producers  are rational. This approach to competition law was later received in Europe
under the banner of a more economic approach. For the past two decades  behavioural law and
economics  which seeks to generate better insights into legal phenomena by providing more
realistic psychological foundations for economic models  and to offer a multitude of
applications in legislation and legal adjudication  has challenged the traditional economic
approach to law in general and  more recently  to competition law specifically.

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