政策和法律競(jìng)爭(zhēng)competition policy and law國(guó)外大學(xué)金融經(jīng)濟(jì)研究】

1、1Competition Policy and LawPresentation to Study Tour for Russian Member Universities of the Virtual Institute Network26 March 20092Main topics What do Competition Authorities do? What is Abuse of Dominance? A Case Study3What do Competition Authorities do? Enforce a competition law Mergers Agreement

2、s among competitors (horizontal) Agreements between suppliers & buyers (vertical) Abuse of dominance or monopolization Advocate for government policies that are more pro-competitive Some also enforce consumer protection laws, and advocate for more pro-consumer government policies4Objectives Ofte

3、n unclear Vary from jurisdiction to jurisdiction Consumer welfare v. total welfare Static efficiency v. dynamic efficiency Distribution, eg SMEs, price discrimination, historically disadvantaged persons5Decisions by competition authorities Criteria based on objectives Independent - decisions in indi

4、vidual cases are not indicated by politicians But - always policy direction set by politicians Some systems have appeal of individual decisions to politicians Independent 2 - All systems have appeal of individual decisions to courts Limited by ability to get and analyze facts6Economics Review(Compet

5、ition law is composed of economics concepts adjusted to be administrable) Markets Market power Substantial & durable market power Barriers to entry & barriers to expansion Coordination & collusion Principal - agent problems (hidden action, hidden knowledge)7Diagram 1: Supply CurvePriceQu

6、antitySupply8Diagram 2: Demand CurvePriceQuantityDemand9Diagram 3: Supply & DemandPriceQuantityDemandSupply10Diagram 4: Supply & Demand with Market PowerPriceQuantityDemandSupply11Diagram 5: Vertical restraints (hidden action, hidden knowledge)RetailerBrand owner (manufacturer)RetailerRetail

7、erPriceTerritoryCustomerOther brands12Main topics What do Competition Authorities do? What is Abuse of Dominance? A Case Study13Abuse of dominance Is the firm dominant? Is the conduct an abuse? Is there a remedy?14Three standards Russian Federation Art. 5 & Art. 10 European Union Art. 82 US Sher

8、man Act 2 Of course, there are other standards15Russian Federation Federal Law 135-FZ of July 26, 2006 On Protection of Competition Article 5 defines dominant position One or more economic entities can have a decisive impact on the general conditions of the market, or can exclude or prevent the entr

9、y of other economic entities onto the market. Market share presumptions Article 10 defines and prohibits abuses of dominance16Russia Dominance Presumed dominant if market share 50% (but rebuttable) Presumed not dominant if market share 50% (but FAS can show dominance using stability of market shares

10、, barriers to entry, or other characteristics specific to the commodity market) Cannot be found dominant if market share 70% almost always supports inference, but rebuttable50% almost never find monopoly Other evidence is very important Barriers to entry - most important Barriers to rivals expansion - also important27US standard on exclusive dealing agreements: The concern is that it may be an improper means of maintaining a monopoly.1. Must have monopoly power.2. The exclusionary conduct must have an anti-competitive effect.3. Even if both condition