Dynamic Competition, Price Frictions and Institution Building: the CMA in 2022–2023

Julie Bon (), Alistair Love (), Alan McNaboe (), Nenad Njegovan (), Jakob Schneebacher () and Mike Walker ()
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Julie Bon: Competition and Markets Authority
Alistair Love: Competition and Markets Authority
Alan McNaboe: Ofcom, Riverside House
Nenad Njegovan: Competition and Markets Authority
Jakob Schneebacher: Competition and Markets Authority
Mike Walker: Competition and Markets Authority

Review of Industrial Organization, 2023, vol. 63, issue 4, No 4, 523 pages

Abstract: Abstract This article discusses three projects of economic significance that the Competition and Markets Authority (CMA) completed in the last year: First, we discuss the dynamic competition concerns that were at the heart of the CMA’s analysis of the Meta/GIPHY merger; this was the first case of a competition authority’s blocking an acquisition by one of the ‘Big Tech’ firms. Second, our work on the road fuels market study examined pricing behaviour in an important consumer-facing market and found that competition had weakened because historic price leaders have been taking a less aggressive approach to pricing, Third, we established a new research centre—the Microeconomics Unit—to bring economic expertise on competition, innovation, and productivity closer to regulatory and policy decisions.

Keywords: Competition authority; Mergers; Market study; Dynamic theory of competition (search for similar items in EconPapers)
JEL-codes: L11 L12 L40 (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/s11151-023-09934-w

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