Economic Analysis, Anti-trust Law and the Oligopoly Problem

Competition is socially desirable because, in general, in a competitive environment, firms' desire to maximize their profits will force them, in the long run, not only to become as efficient as possible but also to lower their prices to the level of their average (economic) costs.

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Published in:European business organization law review 2000-03, Vol.1 (1), p.41-57
Main Author: Jenny, Frédéric
Format: Article
Language:English
Subjects:
Antitrust laws
Business studies
Commercial law
Competition
Economic analysis
Economic theory
Law
Legal studies
Legal systems
Monopolistic competition
Oligopoly
Organization theory
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creator Jenny, Frédéric
description Competition is socially desirable because, in general, in a competitive environment, firms' desire to maximize their profits will force them, in the long run, not only to become as efficient as possible but also to lower their prices to the level of their average (economic) costs.
doi_str_mv 10.1017/S1566752900000057
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ispartof European business organization law review, 2000-03, Vol.1 (1), p.41-57
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source International Bibliography of the Social Sciences (IBSS); Springer Nature; Cambridge University Press:JISC Collections:Full Collection Digital Archives (STM and HSS) (218 titles)
subjects Antitrust laws
Business studies
Commercial law
Competition
Economic analysis
Economic theory
Law
Legal studies
Legal systems
Monopolistic competition
Oligopoly
Organization theory
title Economic Analysis, Anti-trust Law and the Oligopoly Problem
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