Abstract

http://ssrn.com/abstract=1636679
 
 

References (16)



 


 



Does Competition Matter? An Attempt of Analytical 'Unbundling' of Competition from Consumer Welfare


Oles Andriychuk


University of Stirling, School of Law

2009

Yearbook of Antitrust and Regulatory Studies, Vol. 2, No. 2, 2009

Abstract:     
This paper is an attempt to evaluate the conceptual relationship between two central elements of the theory of antitrust: competition and consumer welfare. These two notions are analysed in their mutual dependency. The main purpose of this paper is to show that both competition and consumer welfare are economic values of fundamental importance with no ex ante hierarchical dominance of consumer welfare over competition. In case of conflict, priority might be given to either of these values depending on the context of the assessment. As can be understood from the very etymology of the term, competition is a notion which encompasses a process, more than a result. The notion of consumer welfare, on the other hand, is result-oriented. If we are interested in the outcomes that can be generated by competition only, then the very process of rivalry between undertakings would be seen as unnecessary or, at least, not indispensable. If, however, we consider that competition (seen as a process) is important for the societal paradigm of economic development, then the outcomes generated by this process are not the only reason for the rivalry between undertakings to exist. Methodologically, the latter approach appears to be more consistent with the idea of liberal democracy.

Number of Pages in PDF File: 16

Keywords: goals of competition law, competition and liberal democracy, rule of reason vs. rule of form

JEL Classification: L4

Accepted Paper Series


Download This Paper

Date posted: July 10, 2010  

Suggested Citation

Andriychuk, Oles, Does Competition Matter? An Attempt of Analytical 'Unbundling' of Competition from Consumer Welfare (2009). Yearbook of Antitrust and Regulatory Studies, Vol. 2, No. 2, 2009 . Available at SSRN: http://ssrn.com/abstract=1636679

Contact Information

Oles Andriychuk (Contact Author)
University of Stirling, School of Law ( email )
Pathfoot Building
Stirling, FK9 4LA
United Kingdom
Feedback to SSRN


Paper statistics
Abstract Views: 480
Downloads: 115
Download Rank: 142,452
References:  16

© 2014 Social Science Electronic Publishing, Inc. All Rights Reserved.  FAQ   Terms of Use   Privacy Policy   Copyright   Contact Us
This page was processed by apollo6 in 0.250 seconds