Competition Policy: What are the Costs and Benefits of Measuring its Costs and Benefits? |
| |
Authors: | Gunnar Niels Reinder van Dijk |
| |
Institution: | (1) Oxera, Park Central, 40/41 Park End Street, Oxford, OX1 IJD, UK |
| |
Abstract: | Summary Competition authorities are increasingly measuring the effects of their enforcement actions, seeking a robust justification
for the proliferation of competition policy. We highlight the importance of identifying the right counterfactual against which
to measure effects, and set out the relevant categories of costs and benefits. We then explore how a balance can be struck
between the benefits and inherent limitations of these measurement exercises. Relatively crude analyses of cartel action benefits
can be sufficient to achieve public legitimacy for competition policy. Assessing the effects of merger and conduct inquiries
is often ambiguous, but could be used to improve decision-making processes.
Director and Managing Consultant, respectively, at Oxera, Oxford and London. The valuable comments of Fod Barnes, Kerry Hughes
and an anonymous referee are gratefully acknowledged. The opinions expressed in this article are those of the authors alone. |
| |
Keywords: | cartels competition law competition policy cost– benefit analysis |
本文献已被 SpringerLink 等数据库收录! |
|