In Sweden and the rest of Europe, just as in many other parts of the world, economic adaptation is taking place. Markets for electricity, telecom and transport are being opened up to competition. In order to disseminate knowledge of what is taking place in deregulated markets, the Competition Authority invited a number of prominent researchers and experts in the area to contribute articles to the anthology ”The Pros and Cons of Antitrust in Deregulated Markets”.
The book is focusing on the relationship between competition legislation and sectoral regulation. When is sector specific deregulation needed to steer the actions of undertakings and when is general legislation on competition sufficient?
- Martin Cave (University of Warwick) and Peter Crowther ( Firm LeBoeuf, Lamb, Greene & MacRae) argue that there are advantages to be drawn from such special regulation as a complement to the rules on competition when markets are being liberalised.
- Consumer aspects in deregulation were discussed in a contribution to the article from Michael Harker and Catherine Waddams Price (both from ESRC Centre for Competition Policy and the University of East Anglia). They are clearly questioning the fact that the the authorities are capable of dealing with consumer issues when monopolies have been replaced by competition.
- Alison Oldale and A. Jorge Padilla (both from LECG) have a clearly critical approach to the new Electronic Communications Act introduced in the EU to regulate the telecom market. They show that such regulation can imply much more intervention than competition legislation.
- Frank A. Wolak (Stanford University) is pointing at the fact that the competition rules in the electricity area must be supplemented by special legislation to tackle the actions of electricity undertakings.