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The Rules for Fair Competition: Antimonopoly Law

In: Econo-Legal Studies

Author

Listed:
  • Fumio Sensui

    (Kobe University)

  • Takashi Yanagawa

    (Setsunan University)

Abstract

The Antimonopoly ActAntimonopoly Act, which defines the rules governing competition between companies, is among the most fertile fields of cooperation between legal and economic scholars in terms of its theoretical interpretation and practical applications. The authorities responsible for its application have backgrounds in jurisprudence and economics, and it is not unusual for legal scholars and economists to collaborate on joint research in this field. Although jurisprudence and economic interpretations of the many issues surrounding the Antimonopoly Act align in many cases, they sometimes do not. In this chapter, we address prototypical examples of this misalignment: resale price maintenance and tying. The principal driver of the diverging opinions on this issue is that economists use efficiency as a basis for their opposition to strict regulation, whereas legal scholars emphasize distributors’ right to set prices against resale price maintenance and consumers’ right to choose consumption goods against tying. Legal scholars believe that conduct that impedes these rights should be restricted. In this way, the two groups’ foundations for evaluating these cases differ in essence.

Suggested Citation

  • Fumio Sensui & Takashi Yanagawa, 2021. "The Rules for Fair Competition: Antimonopoly Law," Springer Books, in: Takashi Yanagawa & Hiroshi Takahashi & Shinya Ouchi (ed.), Econo-Legal Studies, chapter 0, pages 71-99, Springer.
    • Handle: RePEc:spr:sprchp:978-981-16-5145-8_4
    DOI: 10.1007/978-981-16-5145-8_4
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