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Making European Merger Policy More Predictable  
Making European Merger Policy More Predictable
von: Stefan Voigt, André Schmidt
Springer-Verlag, 2005
ISBN: 9781402030901
200 Seiten, Download: 6482 KB
 
Format:  PDF
geeignet für: Apple iPad, Android Tablet PC's Online-Lesen PC, MAC, Laptop

Typ: A (einfacher Zugriff)

 

 
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Inhaltsverzeichnis

  TABLE OF CONTENTS 5  
  PREFACE 11  
  CHAPTER I PREDICTABILITY AS A CRUCIAL CONDITION FOR ECONOMIC GROWTH AND DEVELOPMENT 12  
     1. INTRODUCTORY REMARKS 12  
     2. SOME THEORETICAL CONSIDERATIONS CONCERNING PREDICTABILITY 12  
     3. SOME EMPIRICAL RESULTS CONCERNING PREDICTABILITY 14  
     4. THE PREDICTABILITY OF EUROPEAN MERGER POLICY 16  
        4.1. A Survey Amongst Large European Firms 19  
           4.1.1. Before Notification 20  
           4.1.2. After notification 21  
     5. PROPOSALS FOR IMPROVING PREDICTABILITY 22  
  CHAPTER II DEVELOPMENTS IN COMPETITION THEORY 24  
     1. INTRODUCTORY REMARKS 24  
     2. THE HARVARD APPROACH 24  
        2.1. Main Points 25  
        2.2. Policy Implications 27  
        2.3. Critique 27  
     3. THE CHICAGO APPROACH 29  
        3.1. Main Points 29  
        3.2. Policy Implications 31  
        3.3. Critique 32  
     4. CONTESTABILITY THEORY 33  
        4.1. Main Points 33  
        4.2. Policy Implications 35  
        4.3. Critique 35  
     5. THE CONTRIBUTION OF GAME THEORY: THE NEW INDUSTRIAL ORGANISATION 35  
        5.1. Game Components 36  
        5.2. Advantages of Using Game Theory in Competition Theory 36  
        5.3. Critique Concerning the Use of Game Theory in f Competition Theory 38  
     6. THE CONTRIBUTION OF THE NEW INSTITUTIONAL ECONOMICS: TRANSACTION COST ECONOMICS 39  
        6.1. Transactions and Transaction Costs 40  
        6.2. Assumptions of Transaction Cost Economics f 41  
        6.3. Policy Implications 43  
     7. IN LIEU OF A SUMMARY: CONSENSUS AND DISSENSUS BETWEEN THE VARIOUS APPROACHES 45  
  CHAPTER III TRENDS IN THE BUSINESS ENVIRONMENT 50  
     1. LIBERALISATION AS A DRIVING FORCE OF GLOBALISATION 51  
        1.1. General Trends 51  
           1.1.1. Liberalisation within nation-states 52  
           1.1.2. Liberalisation by regional integration 53  
           1.1.3. Liberalisation on a worldwide scale 53  
        1.2. Sector-Specific Liberalisation 54  
           1.2.1. Liberalisation of goods markets 54  
           1.2.2. Liberalisation of capital markets 55  
           1.2.3. Facilitation of Foreign Direct Investment 55  
           1.2.4. Liberalisation of service markets 56  
     2. ECONOMIC AND TECHNOLOGICAL FACTORS 56  
        2.1. Rapid Technological Change 56  
        2.2. Increasing Mobility of Supply 57  
        2.3. Developments in Transport Costs 57  
        2.4. The Internet 58  
        2.5. Homogenisation of Preferences 60  
        2.6. Rapid Change of Consumption Patterns 61  
     3. CONCLUSIONS 61  
  CHAPTER IV POSSIBLE CONSEQUENCES OF TRENDS IN THEORY (B) AND DEVELOPMENTS IN BUSINESS (C) FOR COMPETITION POLICY 64  
     1. INTRODUCTION 64  
     2. FROM MARKET DEFINITION TO ASSESSING DOMINANCE 65  
        2.1. The Standard Approach 65  
           2.1.1. The relevant product market 66  
           2.1.2. The relevant geographic market 67  
           2.1.3. Defining relevant markets in practice: the hypothetical monopolist test 68  
           2.1.4. Predicting the post-merger structure 68  
           2.1.5. Assessing Single Dominance 69  
        2.2. Consequences of Recent Theoretical Developments 71  
        2.3. Consequences of Recent Trends in Business Environment 72  
        2.4. Current EU Practice 74  
           2.4.1. The Relevant Product Market 74  
           2.4.2. The Relevant Geographic Market 77  
           2.4.3. Assessing Dominance 79  
        2.5. Proposals Towards Enhancing Predictability 82  
           2.5.1. Simple Tools 83  
           2.5.2. Improvements Due to Theoretical Developments 90  
           2.5.3. Improvements Due to Trends in the Business Environment 97  
     3. A CLOSER LOOK AT BARRIERS TO ENTRY AND CONTESTABILITY 98  
        3.1. The Standard Approach 98  
        3.2. Consequences of Recent Theoretical Developments 102  
        3.3. Consequences of Recent Trends in the Business Environment 104  
        3.4. Current EU Practice 105  
        3.5. Proposals Towards Enhancing Predictability 108  
     4. ASSESSING COLLECTIVE DOMINANCE 111  
        4.1. Standard Approach 113  
        4.2. Recent Theoretical Developments 115  
        4.3. Recent Trends in the Business Environment 119  
        4.4. Current EU Practice 121  
        4.5. Reform Proposals 124  
  CHAPTER V CASE STUDIES 130  
     1. ASSESSMENT OF BARRIERS TO ENTRY IN EUROPEAN MERGER CONTROL: THE CASES OF VOLVO/SCANIA, MERCEDESBENZ/ KÄSSBOHRER, AND MAN/AUWÄRTER 131  
        1.1. Barriers to Entry in the Case of MERCEDES-BENZ/KÄSSBOHRER 131  
        1.2. Barriers to Entry in the Case of VOLVO/SCANIA 133  
           1.2.1. The Market for Heavy Trucks 133  
           1.2.2. The Market for Buses 134  
        1.3. MAN/AUWÄRTER 135  
        1.4. Economic Assessment 136  
     2. ASSESSMENT OF BARRIERS TO ENTRY IN EUROPEAN MERGER CONTROL: THE CASES OF SCA/METSÄ TISSUE AND SCA HYGIENE PRODUCTS/CARTOINVEST 140  
        2.1. Barriers to Entry in SCA/METSÄ TISSUE 140  
        2.2. Barriers to Entry in SCA HYGIENE PRODUCTS/CARTOINVEST 142  
        2.3. Comparison of the Decisions 143  
        2.4. Economic Assessment 143  
     3. ASSESSMENT OF BARRIERS TO ENTRY IN EUROPEAN MERGER CONTROL: THE CASE OF BASF/BAYER/HOECHST/DYSTAR 147  
        3.1. Barriers to Entry in the Case of BASF/BAYER/HOECHST/DYSTAR 148  
        3.2. Economic Assessment 149  
     4. THE ASSESSMENT OF BARRIERS TO ENTRY IN EUROPEAN MERGER CONTROL: THE MARKETS FOR TELECOMMUNICATIONS IN THE CASE OF TELIA/TELENOR 150  
        4.1. The Special Conditions for Entry in the Markets for Telecommunications 151  
        4.2. The Case of TELIA/TELENOR 153  
        4.3. Assessment of the Decision 155  
     5. COLLECTIVE DOMINANCE UNDER THE EUROPEAN MERGER REGULATION 157  
        5.1. NESTLÉ/PERRIER (1992) 157  
        5.2. KALI&SALZ/MDK/TREUHAND (1993) 160  
        5.3. GENCOR/LONRHO (1996) 161  
        5.4. EXXON/MOBIL (1999) 163  
        5.5. AIRTOURS/FIRST CHOICE (1999) 165  
        5.6. UPM-KYMMENE/HAINDL and NORSKE SKOG/PARENCO/WALSUM (2001) 168  
  CHAPTER VI PRACTICAL PROPOSALS 172  
     1. INTRODUCTORY REMARKS 172  
     2. OVERVIEW OF SUBSTANTIVE PROPOSALS AS DEVELOPED IN CHAPTER IV 172  
     3. PROCEDURAL PROPOSALS 177  
     4. CONCLUSIONS AND OUTLOOK 186  
  APPENDIX 188  
  ENDNOTES 192  
  REFERENCES 196  
  INDEX 202  


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