Table of Contents

Economic Theory and Competition Law

Economic Theory and Competition Law

ASCOLA Competition Law series

Edited by Josef Drexl, Laurence Idot and Joël Monéger

The context for this book is the increasingly complex relationship between economic theory and competition law which gives rise to lively political and academic debate on the direction competition law should take in a more global and innovation-oriented market place.

Chapter 4: Efficiency of Competition Law in Economies of Transition

Lubo Tich

Subjects: economics and finance, competition policy, law and economics, law - academic, competition and antitrust law, law and economics


4. Efficiency of competition law in economies of transition Luboš Tich´ * y 1 INTRODUCTION Advancing an economic argument, or alternatively an economic or economizing concept of commercial competition, primarily means understanding the categories of competition law from the perspective of their economic content. This involves a two-fold procedure: (a) interpreting all terms, that is, the words in the text, from the perspective of their economic content, and (b) incorporating terms with economic significance into the regulatory text. This chapter attempts to analyse the law on regulation of competition in the Czech Republic from this perspective, covering succinctly the entire course of its development; to compare and contrast the current state of the law with that in Europe and in two new member states, Poland and Hungary; to point out certain broader contexts for the understanding of commercial competition in the Czech Republic; and to evaluate the existing law in terms of its significance for the market economy. 2 DESCRIPTION OF BASIC TERMS 2.1 Economic Analysis of Competition Law and Efficiency The economic aspect1 or concept of competition and its regulation of course includes the issue of economic efficiency.2 Economic efficiency no * Prof. Dr., Head of the Department of European Law, Faculty of Law, Charles University Prague. 1 U Schwalbe and D Zimmer, Kartellrecht und Ökonomie (1990) 10. 2 H Eidenmüller, Effizienz als Rechtsprinzip (1998) 4 et seq. 70 Competition law in economies of transition 71 doubt serves as an assessment criterion for...

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