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Law and Economics EU/EC Competition Law

Law and Economics EU/EC Competition Law. Professional Career Programme (PCP). Yoshiharu, ICHIKAWA, LL.M. 2011/10/22. What we learned at the last session. Structure-Conduct-Performance paradigm The Chicago School The post-Chicago paradigm

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Law and Economics EU/EC Competition Law

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  1. Law and Economics EU/EC Competition Law Professional Career Programme (PCP) Yoshiharu, ICHIKAWA, LL.M. 2011/10/22

  2. What we learned at the last session Structure-Conduct-Performance paradigm The Chicago School The post-Chicago paradigm …and their effects on interpretation of competition law 1

  3. Introduction to today’s session How does the economic theory affect the interpretation in reality? Where is the difference between the US and the EU? Student’s presentation 1

  4. Chapter 3: Economics and competition law • The effects of economics on law in US antitrust • Economics translated into law • decisions in competition cases require an economic model to determine the legality of behaviour • time lags between a paradigm shift in economic thinking and its effects on law • require some simplification – post Chicago fails to take hold 3

  5. Chapter 3: Economics and competition law • The effects of economics on law in US antitrust • Economics translated into law • - Institution, politics and the translation of economics into law • in 1960s, systematic use of economic arguments became the norm • reception of new economics idea is not uniform • - merger policy is the most flexible category • vs. the duty to observe precedent by the Court • --- ‘now so embedded in the rationale for antitrust policy’ 3

  6. Chapter 3: Economics and competition law • European competition policy and economics • A lack of economic analysis • common law vs civil law • civil law: by applying fundamental rules (categolisation); • a legal system inspired by Roman law and whose primary feature is that laws are written into a collection, codified, and not (as in common law) co-created by judges • common law: by interpreting the contract (term-based); • a legal system that gives great precedential weight to common law,on the principle that it is unfair to treat similar facts differently on different occasions • civil law traditions that have been traditionally less receptive to economic analysis of law • civil law culture favours reasoning according to legal categories 3

  7. Chapter 3: Economics and competition law • European competition policy and economics • A lack of economic analysis • Article 101(1), read literally, is close to the economic freedom model • Institution - favouring a (civilian) legal discorse • Politics – never purely economics, ordoliberal origins • --- against totalitarianism 3

  8. Chapter 3: Economics and competition law European competition policy and economics - A lack of economic analysis - Contemporary EC competition policy: what sort of economic approach? ‘more economics-oriented approach’ since vertical restraints guidelines Consumer interests – not total welfare Market power – fit with consumer interest focus Pluralism – plurality of market participants guarantees better economic performance 3

  9. Chapter 3: Economics and competition law European competition policy and economics - A lack of economic analysis - Contemporary EC competition policy: what sort of economic approach? - Economics in competition law: opportunities and limitations redirected towards an increased use of economic analysis for ensuring the normative foundations of EU competition law 3

  10. Chapter 3: Economics and competition law Question: Which do you prefer, civil law, legal categorical thinking? common law, based on economic thinking? (or EU way?, US way?) 3

  11. Course web site: My webpage: http://www32.ocn.ne.jp/~estate4/education2011.htm You can download the presentation I used in the session. Contact address: 4thestate@mail.goo.ne.jp or from my Facebook page 1

  12. Course Schedule [updated] 11/10/01 Chapter 2-1, 2 [student A( TAKABAYASHI )] 11/10/08 Chapter 2-3, 4, 5, 6 [student B( Lecturer )] 11/10/15 Chapter 3-1, 2, 3, 4, 5 [student C( MERCKEN, CASTELLANE)] 11/10/22 Chapter 3-6, 7, 8 [student D( decided )] 11/10/29 class cancellationbecause of Kei-So Sen 11/11/05 Chapter 5-1, 2, 3 [student E( OSAWA, KIKUCHI )] NEXTSession 1

  13. Course Schedule [updated] 11/11/12 class cancellation (Sorry! I attend the international conference.) 11/11/19 class cancellation (Mita Festival) 11/11/26 --- date changed Chapter 5-4, 5, 6, 7 [student F( SAKAMOTO, TAKEDA )] (and we also have Mid-term Exam this day) 11/12/03 class cancellation 11/12/10 Chapter 6-1, 2, 3, 4 [student G( Taiki, Takaaki)] 11/12/17 Chapter 6-5, 6, 7 [student H( Junichiro, Kenmei)] 1

  14. Course Schedule [updated] 11/12/24 Enforcement – Watch the movie ‘Informant!’ 12/01/14 Chapter 11-1, 2, 3 [student I( not yet decided )] At the same day, Submission of take-home exam and final discussion 1

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