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Essay / Research Paper Abstract
This 3 page paper looks at the issue of competition policy, what it is and how it is undertaken to protect free competition, looking at issues such as control, antitrust and pricing policies. The paper focuses on EU competition regulations. The bibliography cites 4 sources.
Page Count:
3 pages (~225 words per page)
File: TS14_TEcomppol.rtf
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Unformatted sample text from the term paper:
where they have too much control, or by preventing firms from abusing market power. Where there is competition there are pressures that benefit consumers which include downward pressure in prices
as well as the need to innovate in order to move a market forward. Vincenzi and Fairhurst have stated "Competition is the best stimulant of economic activity..... but is not,
however, regarded as an end in itself. It is one of the most important means by which an integrated market is achieved." (Vincenzi and Fairhurst, 2001). When looking at the
EU there is a raft of legislation that is aimed at protecting the markets of these is Article 82 which deals with mergers and acquisitions. A merger is when two
companies become one, in joining there are many advantages. There will be a realisation of the economies of scale, there will also be an increase in market share. However, if
the market share is too great then the company may be in a dominant position that leads to a reduction in the competitive forces and distorts the industry. When
this occurs there are unfair advantages held by one company over another, and as such the law is designed to allow free competition, but also restrict and control it so
that free competition remains. Article 82 at first looks to be a strange article as in its wording it has been put
into place not to control mergers and acquisition, but to control activities of any company in a dominant position. The article states that it is not the dominance of the
position that is the breach, but an abuse of that dominance. This was demonstrated by the case of Michelin; NV Nederlandsche Bander-Industrie Michelin v Commission (Case 322/81) (Lexis, 2009).
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