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Is more like Europe Better?: an Economic Evaluation of Recent Changes in UK Competition Policy

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Abstract

The 1998 Competition Act represents a major change in the content and practice of competition policy in the United Kingdom, bringing it into line with European policy as practised under Articles 85 and 86. The paper presents an economic evaluation of the new provisions, and of the draft Guidelines issued by the Office of Fair Trading which indicate how the Office believes the policy should be applied. The paper concludes that there are likely to be substantial gains for policy in general, but suggests that the incorporation of Article 86 without amendment is likely to create difficulties

Suggested Citation

  • Hay, D., 1998. "Is more like Europe Better?: an Economic Evaluation of Recent Changes in UK Competition Policy," Economics Series Working Papers 99204, University of Oxford, Department of Economics.
    • Handle: RePEc:oxf:wpaper:99204
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    More about this item

    Keywords

    COMPETITION ; MARKET STRUCTURE ; PUBLIC POLICY;
    All these keywords.

    JEL classification:

    • D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection
    • L40 - Industrial Organization - - Antitrust Issues and Policies - - - General

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