Safe harbours in merger guidelines define post-merger market concentration or concentration change thresholds below which proposed mergers are unlikely to be anti-competitive; anti-competitiveness is usually measured as a substantial lessening of competition. Yet competition agencies have...

Sutton proposed that there is a lower bound to the distribution of firm sizes in markets that can be described by a limiting Lorenz curve. The prediction is based on markets that are large and contain many firms, a situation typically found in large economies, and on markets that are relatively...

In many economics textbooks, butter and margarine are given as an example of close substitute goods. Indeed, margarine was developed originally as a substitute for butter, and for long time margarine was perceived as being such a close substitute for butter that dairy industries in various...

Since the formation of the East Asian Summit (EAS) in 2005, Energy Market Integration (EMI) in East Asia has become one of the initiatives endorsed and actively promoted by EAS governments. Electricity market integration in East Asia is an important component of EMI. It is argued that an...

All around the world, electricity market reforms involve various forms of unbundling previously vertically integrated state-owned or privately owned electricity monopolies. New Zealand is the only country in the developed world that has implemented forced ownership unbundling of electricity...