Microeconomic Theory as a Basis for Competition Policy Cover Image

Микроекономска теорија као основа политике за заштиту конкуренције
Microeconomic Theory as a Basis for Competition Policy

Author(s): Ljiljana M. Maksimović, Gordana Ž. Radosavljević
Subject(s): Supranational / Global Economy, Economic policy, Welfare systems, 19th Century
Published by: Институт за политичке студије
Keywords: monopoly; oligopoly; cartel; competition; welfare loss; competition policy;

Summary/Abstract: The paper deals with reasons resulted in anti- monopolistic (anti- trust) policy, the goals of competition policy and its historical fundamentals, as well as the experiences with the implementation of the policy in the world and in the Republic of Serbia. The points put forth in the paper have proved the following hypotheses: firstly, competition policy has been a necessary measure of intervention within high concentration industries since the Sherman Antitrust Act of 1890; secondly, sanctions imposed against monopolies and cartels are significantly lower if compared with benefits gained due to abusing their market power; thirdly, the experiences of developed countries in anti- monopolistic legislation provide useful guidelines for a more efficient implementation of competition policy in Serbia.

  • Issue Year: 2012
  • Issue No: 2
  • Page Range: 179-199
  • Page Count: 21
  • Language: Serbian