Drawing on a new analytical framework provided by the economic theory of optimal legal areas, this paper identifies the factors determining the optimal size of the European Union. It applies this theory to the question of how enlargement affects the welfare of the current and the new members of...

The conventional theory of international trade is dominated by a model presupposing a legal order that is perfect in its specifications and controllability, binding for all economic agents, no matter their nationality. World order appears to be cosmopolitan in the sense of Kant. An international...

Before joining the European Union countries from Central and Eastern Europe have to adopt the acquis communautaire, i.e. the system of legal rules developed in the Union. The paper outlines an economic theory of optimum legal areas, that is used to determine the optimal size of the Union as well...

A university system has both efficiency and equity objectives. Efficiency requires the adoption of a tuition fee system that maximizes net social benefits. These benefits take two main forms: production benefits and a more diffuse range of benefits to society in general. The equity objective...

Taking the fundamental and comprehensive reform of EU competition policy which embodies a shift from a formalistic regulatory approach towards a more economic approach as a point of departure, this article argues that it is time for antitrust policy to move beyond structural understandings of...

This article argues that it is time for antitrust policy to move beyond structural understandings of competition ("preserving competition") and into the realm of explicit welfare analysis. A "more economic approach" should reflect current economic thinking about competition, incentives and...

The relationship between the Antitrust Law and the Patent, Copyright and other Intellectual Property (IP) Laws has perplexed antitrust scholars and practitioners for a long time. Intellectual property and antitrust regimes both seek to advance the economic well-being of society. However, whereas...

Recently, Chr. Mantzavinos proposed a new concept for antitrust analysis drawing on theoretical developments in New Institutional Economics and Evolutionary Economics. Criticizing the policy prescriptions based on traditional microeconomics and welfare economics, Mantzavinos pleas for a...

Recently, Chr. Mantzavinos proposed a new concept for antitrust analysis drawing on theoretical developments in New Institutional Economics and Evolutionary Economics. Criticizing the policy prescriptions based on traditional microeconomics and welfare economics, Mantzavinos pleas for a...

It is the purpose of the paper to shed light on the question to what extent there is a need for a unified contract law in the European Union. The paper outlines a concept of constitutional uncertainty in international trade and presents a model of international transactions in the presence of a...