Given the increase in large-scale mergers throughout the world, this volume addresses the growing problem of restricted competition through collusion and the perennial debate surrounding the use of government subsidies for industries to further national interests. The aims of the book are threefold, firstly, to elucidate the antecedents of competition policy in the US and Europe and to demonstrate how far a convergence of principles has developed. Secondly, to outline the theory of industrial organization as a major tool to devise an appropriate policy, and thirdly, to discuss the practice of...

The book aims to further our understanding of how economic reasoning and legal expertise complement each other in defining the fundamental issues and principles in competition policy. In specially commissioned chapters the book provides a scholarly review of economic theory, empirical evidence and standards of legal evaluation with respect to monopolization of markets, exploitation of market power and mergers, among other issues.