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The Objectives of Competition Law

Author

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  • Cassey LEE

    (Institute of Southeast Asian Studies, Singapore)

Abstract

This essay examines the nature of competition law objectives by visiting some of the theoretical and philosophical foundations underlying competition law. The key objectives of competition law are welfare, efficiency, and free and fair competition. There are distributive dimensions in competition law that are related to different notions of welfare (consumer surplus and producer surplus). The different types of efficiencies are subject to trade-offs – within a given time (allocative versus productive) and inter-temporally (static versus dynamic). Theoretical, conceptual, and philosophical frameworks also influence competition law objectives.

Suggested Citation

  • Cassey LEE, 2015. "The Objectives of Competition Law," Working Papers DP-2015-54, Economic Research Institute for ASEAN and East Asia (ERIA).
  • Handle: RePEc:era:wpaper:dp-2015-54
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    File URL: http://www.eria.org/ERIA-DP-2015-54.pdf
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    References listed on IDEAS

    as
    1. Fukunari Kimura & Tomohiro Machikita & Yasushi Ueki, 2016. "Technology transfer in ASEAN countries: some evidence from buyer-provided training network data," Economic Change and Restructuring, Springer, pages 195-219.
    2. Misa OKABE, 2015. "Impact of Free Trade Agreements on Trade in East Asia," Working Papers DP-2015-01, Economic Research Institute for ASEAN and East Asia (ERIA).
    3. Koji Kubo, 2015. "Evolving Informal Remittance Methods of Myanmar Migrant Workers in Thailand," Working Papers DP-2015-45, Economic Research Institute for ASEAN and East Asia (ERIA).
    4. James Konow, 2003. "Which Is the Fairest One of All? A Positive Analysis of Justice Theories," Journal of Economic Literature, American Economic Association, pages 1188-1239.
    5. Rully PRASSETYA & Ponciano INTAL Jr, 2015. "AEC Blueprint Implementation Performance and Challenges: Standards and Conformance," Working Papers DP-2015-42, Economic Research Institute for ASEAN and East Asia (ERIA).
    6. Rabin, Matthew, 1993. "Incorporating Fairness into Game Theory and Economics," American Economic Review, American Economic Association, pages 1281-1302.
    7. Oecd, 2003. "The Objectives of Competition Law and Policy and the Optimal Design of a Competition Agency," OECD Journal: Competition Law and Policy, OECD Publishing, pages 7-45.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Competition; Competition Law;

    JEL classification:

    • K21 - Law and Economics - - Regulation and Business Law - - - Antitrust Law
    • L40 - Industrial Organization - - Antitrust Issues and Policies - - - General

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