A Legal Commentary on the 'Economics of Unilateral Effects' by Marc Ivaldi, Bruno Jullien, Patrick Rey, Paul Seabright & Jean Tirole
20 Pages Posted: 5 Oct 2015
Date Written: October 3, 2015
My task is to comment upon the “Economics of Unilateral Effects” by Marc Ivaldi, Bruno Jullien, Patrick Rey, Paul Seabright & Jean Tirole – a report that is presented at the website of the European Commission. My examination does not comment on a technical economic analysis. Instead, it constitutes a legal comment on the certain inadequacies of economic examination and on its gross errors. In law, one is never pedantic: the highest precision and attention to each and every word are necessary and obligatory. By contrast, economic analyses are often unreadable for a lawyer. Economists adopt certain definitions in handbooks, and use them in their professional papers according to the memorized notions. That is not what law is all about.
Keywords: market power, unilateral effects, tacit coordination (tacit collusion, collective dominance)
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