Economic Theory and Competition Law
Show Less

Economic Theory and Competition Law

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.
Buy Book in Print
Show Summary Details
You do not have access to this content

Chapter 4: Efficiency of Competition Law in Economies of Transition

Lubo Tich


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...

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.

Further information

or login to access all content.