The Objectives of Competition Law

Cassey Lee

No DP-2015-54, Working Papers from Economic Research Institute for ASEAN and East Asia (ERIA)

Abstract: This essay examines the nature of competition law objectives by visiting some of the theoretical and philosophical foundations underlying competition law. The key objectives of competition law are welfare, efficiency, and free and fair competition. There are distributive dimensions in competition law that are related to different notions of welfare (consumer surplus and producer surplus). The different types of efficiencies are subject to trade-offs – within a given time (allocative versus productive) and inter-temporally (static versus dynamic). Theoretical, conceptual, and philosophical frameworks also influence competition law objectives.

Keywords: Competition; Competition Law (search for similar items in EconPapers)
JEL-codes: K21 L40 (search for similar items in EconPapers)
Pages: 24 pages.
Date: 2015-08
New Economics Papers: this item is included in nep-com and nep-sea
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