Electronic virtual markets can serve as an alternative tool for collecting information that is spread among numerous experts. This is the principal market functionality from the operators’ point of view. On the other hand it is profits that are the main interest of the market participants....

There are two main objects of this paper. The first object is to compare the most important theories and opinions about competition, monopoly and antimonopoly policy. The second object is to summarize some monopoly regulation of these economics theories. All these theories are subdivided into...

This working paper examines the conditions under which the European Union (EU) engages externally in competition policy. In addition, it tests the appropriateness of applying a neofunctionalist approach to specify the conditions under which the EU engages externally in this policy area. The...

This working paper examines the conditions under which the European Union (EU) engages externally in competition policy and tests the appropriateness of applying a neofunctionalist approach for specifying the conditions under which the EU engages externally in this policy area. The working paper...

Many cartels are formed by individual managers of different firms, but not by firms as collectives. However, most of the literature in industrial economics neglects individuals' incentives to form cartels. Although oligopoly experiments reveal important insights on individuals acting as firms,...

This is a survey of the economic principles that underlie antitrust law and how those principles relate to competition policy. We address four core subject areas: market power, collusion, mergers between competitors, and monopolization. In each area, we select the most relevant portions of...