REAL KNOWLEDGE IS TO KNOW THE EXTENT OF ONE'S OWN IGNORANCE: ON THE CONSUMER HARM APPROACH IN INNOVATION-RELATED COMPETITION CASES

Confucius was neither an expert on competition law, nor one on intellectual property. However, thanks to their universal truth, the words of wisdom of this ancient philosopher can help raise their awareness of how they behave and how they argue even in modern times. Asking the right questions in com...

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Bibliographic Details
Published in:Antitrust law journal 2010-03, Vol.76 (3), p.677-708
Main Author: Drexl, Josef
Format: Article
Language:English
Subjects:
Antitrust
Antitrust laws
Business innovation
Competition (Economics)
Competition policy
Consumer economics
Consumer preferences
Consumers
Economic competition
Economic theory
Generic drugs
Innovations
Investigational therapies
Laws, regulations and rules
Liability
Market competition
Market entry
Nuclear power plants
Pharmaceutical industry
Pharmaceutical preparations
Product development
Studies
SYMPOSIUM: ISSUES AT THE FOREFRONT OF MONOPOLIZATION AND ABUSE OF DOMINANCE
Trade legislation
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Summary:Confucius was neither an expert on competition law, nor one on intellectual property. However, thanks to their universal truth, the words of wisdom of this ancient philosopher can help raise their awareness of how they behave and how they argue even in modern times. Asking the right questions in competition law may be of little use if people cannot provide reliable answers. Yet acknowledging such limitations of their cognitive capacity may be in itself a big step ahead in enhancing the general debate on how to handle competition cases. The problem of uncertainty is well known and discussed in merger cases, where the pre-merger notification system requires competition agencies to predict the "likely" effects of a merger on competition. This article focuses on unilateral and joint conduct in innovation-related markets, which produce another set of cases where the problem of uncertainty is particularly acute.
ISSN:0003-6056
2326-9774