Pub Date : 2021-07-22DOI: 10.1093/ACTRADE/9780198860303.003.0012
Ariel Ezrachi
‘The international dimension’ examines the international dimension of competition laws. In order to protect their domestic markets, competition agencies often need to apply their national laws beyond the boundaries of their state. Extraterritoriality in competition law commonly relies on one of two legal concepts. The first extends a competition regime’s jurisdiction to activities which have an effect on that regime’s markets. The second requires ‘implementation’ of anti-competitive activity within the given territory as a condition for extraterritorial application of domestic laws. In the US, the effects doctrine enabled the enforcement of antitrust laws on foreign companies. In the EU, both the effects and implementation doctrines may be used.
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Pub Date : 2021-07-22DOI: 10.1093/actrade/9780198860303.003.0002
Ariel Ezrachi
‘The power of competition’ discusses the power of competition. The nature of the product and the structure of the market affect the intensity of competition and subsequently the price and quality of goods and services. The model of perfect competition illustrates the ideal market scenario — a perfect market which maximizes consumer welfare. There are a number of consequences of limited competition in a market dominated by a monopoly. In such a market, a single firm offers the product or service. There is also a type of market called an oligopoly, which is characterized by a few key competitors.
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