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Economic Policy and Market Regulation Part 4

Economic Policy and Market Regulation Part 4. Dr. Stefan Kooths BiTS Berlin (winter term 2013/2014) www.kooths.de/bits-ep. Outline. Introduction and Overview Market Mechanisms and Government Interventions Externalities and Public Goods Competition Policy and Regulation

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Economic Policy and Market Regulation Part 4

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  1. Economic Policy and Market RegulationPart4 Dr. Stefan Kooths BiTS Berlin(winter term 2013/2014) www.kooths.de/bits-ep

  2. Outline • Introduction and Overview • Market Mechanisms and Government Interventions • Externalities and Public Goods • Competition Policy and Regulation • Competitive markets vs. market power • Anti-competitive behavior and anti-trust policies • Natural monopolies • Ordoliberalism and the Social Market Economy • Summary: The Key Lessons Learnt

  3. Monopoly: Price, quantity, and welfare effects

  4. Price discrimination

  5. Temporary monopolies (pioneer profits), dynamic efficiency, and contestable markets

  6. Cartels: Potential profits and fragility

  7. Outline • Introduction and Overview • Market Mechanisms and Government Interventions • Externalities and Public Goods • Competition Policy and Regulation • Competitive markets vs. market power • Anti-competitive behavior and anti-trust policies • Natural monopolies • Ordoliberalism and the Social Market Economy • Summary: The Key Lessons Learnt

  8. Anti-competitive strategies (overview) • Cartels and collusion • Abuse of dominant market position • Mergers and acquisitions

  9. Anti-trust policy concepts (overview) • Laissez-faire approach • Structure approach • Regulation approach • Ownership approach

  10. Per se-rule vs. rule of reason

  11. Ex ante vs. ex post approach

  12. Problem of the relevant market

  13. Outline • Introduction and Overview • Market Mechanisms and Government Interventions • Externalities and Public Goods • Competition Policy and Regulation • Competitive markets vs. market power • Anti-competitive behavior and anti-trust policies • Natural monopolies • Ordoliberalism and the Social Market Economy • Summary: The Key Lessons Learnt

  14. Economies of scale

  15. Subadditivity of cost functions

  16. Role of potential competition (contestable markets)

  17. Regulation: Price-cap vs. rate-of-return

  18. Auctioning

  19. Ordoliberalism and the Social Market Economy Constitution Demokratischer Staat Regu-lation Protec-tion Competition Socialeconomy

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