Philosophies of competition policy

Gregory J Werden

Oxford Review of Economic Policy, 2024, vol. 40, issue 4, 696-705

Abstract: At a high level of abstraction, different approaches to competition policy are philosophies that differ as to the proper intensity, scope, and focus of enforcement. These three components of a philosophy largely govern the decisions made by enforcement agencies and courts. This article describes, compares, and traces the history of major philosophies and their components. The article concludes by recommending that every competition enforcement agency release a statement of its philosophy, and by sketching the author’s philosophy.

Keywords: competition policy; consumer welfare standard; competitive process standard; Chicago School; New Brandeis Movement; populism (search for similar items in EconPapers)
Date: 2024
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