Competition, Effects and Predictability: Rule of Law and the Economic Approach to Competition

Introduction I. The Effects-Based or 'More Economic Approach' to Antitrust2 II. The Organisation and Scope of this Book III. What this Book is Not 1. The Rule of Law and Why it Matters I. The Rhetorical Use and Abuse of 'The Rule of Law' II. The Rule of Law as a Normative Concept III. The Rule of Law as a Positive Legal Principle IV. Why the Rule of Law Matters V. Conclusion 2. The Effects-Based Approach in the US: The Rule of Reason I. The Early Background to Sherman Act Interpretation II. Per Se Rules and the Limits to the Rule of Reason III. The Renaissance of the Rule of Reason IV. The Rule of Reason in Practice V. The 'Quick Look' Approach VI. The Type of Analysis Matters VII. Effects, Rule of Reason and the Sherman Act Section 2 VIII. Conclusion 3. The Effects-Based Approach in the EU: The More Economic Approach I. The Pre-MEA Understanding of Articles 101 and 102 II. The Shift to the More Economic Approach III. The More Economic Approach IV. Conclusion 3 4. Economics and the Effects-Based Approach I. The Economics of the Effects-Based Approach II. The Challenge of Behavioural Economics III. The Behavioural Challenge to Antitrust IV. Conclusion 5. Institutional Legitimacy and Competence I. The Reorientation of Antitrust II. The Rule of Law and Institutional Competency III. Conclusion 6. Commercial and Legal Certainty I. Precedents, Stability and the Need for Change II. Rules, Standards and Legal Certainty III. Conclusion Conclusion: Putting the Rule of Law Back into Antitrust