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Optimal legal standards for competition policy revisited

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  • Seifert, Jacob

Abstract

I extend the model of legal standards in Katsoulacos and Ulph (2009) to allow for optimal statistical decision-making by the regulator. I show that an effects-based standard produces weakly lower decision error costs than a per se standard in this setting. I also use the framework to highlight an important implicit assumption underlying the comparison of legal standards in the cited paper.

Suggested Citation

  • Seifert, Jacob, 2020. "Optimal legal standards for competition policy revisited," Economics Letters, Elsevier, vol. 194(C).
    • Handle: RePEc:eee:ecolet:v:194:y:2020:i:c:s0165176520302299
    DOI: 10.1016/j.econlet.2020.109359
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    References listed on IDEAS

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    1. Yannis Katsoulacos & David Ulph, 2009. "On Optimal Legal Standards For Competition Policy: A General Welfare‐Based Analysis," Journal of Industrial Economics, Wiley Blackwell, vol. 57(3), pages 410-437, September.
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    Cited by:

    1. Katsoulacos, Yannis & Ulph, David, 2020. "Optimal legal standards for competition policy further re-visited," Economics Letters, Elsevier, vol. 196(C).
    2. Yannis Katsoulacos & David Ulph, 2023. "Choosing legal rules or standards in antitrust enforcement: A proposal for extending and facilitating the use of the decision‐theoretic approach," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 44(4), pages 1876-1894, June.

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    More about this item

    Keywords

    Competition policy; Legal standards; Per se; Effects-based;
    All these keywords.

    JEL classification:

    • K2 - Law and Economics - - Regulation and Business Law
    • L4 - Industrial Organization - - Antitrust Issues and Policies

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