Competition Policy in the EU
Fifty Years on from the Treaty of Rome

A volume that takes stock and looks ahead on the development and implementation of competition policy in the European Union fifty years after the Treaty of Rome. Competition policy has emerged as a key policy in the EU with competition acting as the driving force for economic efficiency and the welfare of citizens. Case law has been established to control and prevent anti-competitve behavior, state aid control has consolidated and evolved towards a more economic approach, and the authority of the EC and the judicial review of the Court of the First Instance (CFI) and the European Court of Justice (ECJ) are firmly etsablished. The book provides an economic approach to competition policy and reflects the main areas of interest, open issues and progress in the area. The volume examines the design of competition policy institutions, the evolution of the implementation of competition policy and its convergence or divergence with US practice, restrictive practices, cartels, abuse of dominance, merger control and state aids. The volume also analyses the interaction of competition policy and regulation, and studies its application to telecoms, banking and energy sectors. All chapters are written by leadfing specialists combining theoretical with practical knowledge and discussing the underpinings of the application of law.

1. Introduction. 2. The Design of Competition Policy Institutions for the 21st Century- the Experience of the Europan Commission and DG Competition. 3. Article 81 Revisited: Deciphering EC Antitrust Goals and Rules. 4. Some Economics of Abuse of Dominance. 5. Cartels in the European Union: Economics. Law, Practice. 6. An Economic Assessment of EC Merger Control: 1957-2007. 7. State Aids: Economic Analysis and Practice in the EU. 8. Competition Policy and Sector-Specific Regulations for Network Industries. 9. European Telecoms Regulation: Past Performance and Prospects. 10. Regulation and Competition Policy in the Banking Sector. 11. EU Regulation and Competition Policy among the Energy Utilities. 12. Competition Policy in the European Union and the United States: Convergence or Divergence?.

Xavier Vives is Professor of Economics and Finance at IESE Business School. He has been Research Professor at Institut d'Analisi Economica (CSIC) and ICREA-UPF, Professor at INSEAD, Harvard Universty, the University of Pennsylvania and New York University, and has taught at the University of California, Berkeley, Universitat Autonoma de Barcelona and Universita Pompeu Fabra. Professor Vives's research has appeared in leading international journals including the American Economic Review, Econometrica, Review of Economic Studies and the Journal of Political Economy. He is also the author of Information and Learning in Markets (Princeton UP, 2008) and Oligopoly Pricing: Old Ideas and New Tools (MIT Press, 1999). He has been editor of international academic journals and has received several research prizes and honors such as being elected Fellow of the Econometric Society in 1992 and of the European Economic Association in 2004. Her has a PhD in Economics from UC Berkeley.