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Price squeezing and predatory pricing. Economic theory and judicial and regulatory practice

100%

Valentiny P.

Kozgazdasagi Szemle (Economic Review)

2004

vol. 51

issue 1

24-45

The article presents the concept of predatory pricing and price squeezing and the economic background to it, before examining what judicial practice has developed and what regulatory intervention there has been. The question of investigating predatory pricing and price squeezes has come to the fore recently because it has become clear since the liberalization of the network public services that liberalization and an end to exclusivity of rights are insufficient to produce the desired measure of competition. After liberalization, it was recognized legally in the EU that a new, more co-reliant and cooperative relation would have to develop in branch and competition regulation. Regulatory changes are taking two directions. On the one hand, greater emphasis is being given in branch regulation to the principles of competition regulation. On the other, the role of branch experts is likely to increase in some areas, such as takeovers, mergers and restriction of competition. A common feature of the regulatory reforms is that well-founded regulatory decisions call for increasingly subtle analysis, in which economic analyses are playing an ever more important role.

Predatory prices. Pricing designed to annihilate competitors

100%

Erdelyi M.

Kozgazdasagi Szemle (Economic Review)

2006

vol. 53

issue 4

365-379

The article presents predatory pricing as anti-competitive behaviour. It describes theories of pricing below cost, from the inception of the concept to the present day, that are decisive to economic assessment of it. The Chicago School questions the rationalism of predatory pricing; Areeda and Turner approached the problem on the basis of short-term average changing costs, but others analysed the long-term effects of predatory pricing. A game-theory approach placed predatory pricing in another light, as entirely rational behaviour under certain conditions, while recent and present-day theories have used newer methods to present predatory pricing. The article also mentions the circumstances that can legitimize this otherwise damaging behaviour. Since selling at under cost is the subject of debate today, it is important to analyse when it poses a danger to welfare, according to the theories.

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2 Kozgazdasagi Szemle (Economic Review)

1 Erdelyi M.

1 Valentiny P.

1 2006

1 2004

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Price squeezing and predatory pricing. Economic theory and judicial and regulatory practice

Predatory prices. Pricing designed to annihilate competitors