Relevant market in EU competition law and WTO law

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Chapter 4 in The Law and Economics of WTO Law, 2021, pp 89-120 from Edward Elgar Publishing

Abstract: This chapter compares the approaches to market definition in WTO law and in EU competition law that were set out in chapters 2 and 3 in order to normatively assess the former according to the law and economics benchmarks adopted in chapter 1. The chapter's aim is to provide an answer to whether WTO law, as currently applied, meets the benchmark set by EU competition law. If not, then normative suggestions can be made. In order to arrive to the normative conclusions regarding 'likeness' in WTO law, the book's method requires four intermediary steps. The first is the establishment of functional similarity, tertium comparationis. This relies on the functions for market definition in EU competition law identified in chapter 2, and on the functions of 'likeness' in WTO law identified in chapter 3. The second step is identification of similarities and differences in the two systems. The third step is an attempt to explain similarities and differences. This is necessary to fairly assess WTO law according to its own idiosyncrasies, some of which may be unrelated to what is being explored in the book. Moreover, explanations have an impact on the normative suggestions that can be made for WTO law in the eventuality that it is found not to meet EU competition law's benchmark. The fourth step is an appraisal of the two systems' similarities and differences to determine whether WTO law meets, or not, the benchmark set by EU competition law. The chapter concludes that WTO law is less efficient, effective and administrable than EU competition law when it comes to relevant market definitions and 'likeness'.

Keywords: Economics and Finance; Law - Academic (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (1)

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