Bridging the Divide? Theories for Integrating Competition Law and Consumer Protection

Abstract

Commissioner Kovacic of the US Federal Trade Commission has stated that “consumer protection laws are important complements to competition policy.” According to the UK Office of Fair Trading, “[c]ompetition and consumer policy are interdependent”; together they “provide a framework for markets to deliver maximum benefits for consumer welfare and productivity growth.” Competition Commissioner Aitken of the Canadian Competition Bureau noted, “I do really think the two mandates address two sides of the same coin with the ultimate goal of economic and consumer welfare.” At the Fourth Antitrust Marathon, hosted by the Irish Competition Authority and executed by Professor Spencer Waller and Dr. Philip Marsden, the lead-off topic was the integration of competition law and consumer protection. This paper theorizes that topic.

Keywords: Antitrust, Consumer Protection, Competition, Market Manipulation, Behavioral Economics

JEL Classification: K21, L40