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This paper critically evaluates the draft version of the US Merger Guidelines from 2023 (D23), which departs from the consumer welfare standard, sparking intense debates within the academic, professional, and business communities. D23, released by the US Department of Justice and the Federal Trade Commission, introduces a shift toward a more structuralist approach in horizontal merger assessment. The paper examines the diverse perspectives of D23, with some perceiving it as a populist move sidelining economic rationale and others viewing it as an attempt to base decisions on factual grounds and enhance antitrust activism. The discussion emphasises the importance of precision in defining relevant markets within D23, a crucial element in merger assessment. This analysis sheds light on the evolving landscape of merger policy, prompting critical inquiries into the future trajectory of competition law.

Unlike other natural disasters, the coronavirus disease pandemic is global in character, which is why interest among researchers in the price gouging phenomenon is on the rise. Without disputing many solid arguments favouring the market mechanism, we will reconsider the goals and means of potential government intervention. One possibility lies in economic regulation, the other in competition law. In the first case, price ceilings are usually imposed for necessary goods, followed by rationing and export restrictions. On the other hand, competition policy focuses on preventing the exercise of temporary market power. We will try to show that market failures can provide specific arguments for regulation but relying on competition protection policy seems unjustified. Still, since the critical issue is defining excessive prices in the short run, we expect competition authorities to address this issue, considering that they are permanently monitoring various markets.

The first confirmed case of African Swine Fever (ASF) in Serbia occurred in 2019. Since then, numerous outbreaks in domestic pigs and wild boars have been reported. Until April 2021, all the detected ASF cases were in backyard pigs. Beside backyard and smallholders farming systems as a dominant pig production system in Serbia, large commercial pig farms can also be found, located mostly in villages. In the beginning of April 2021, a large commercial farrow-to-finish pig farm in Serbia with almost 19,000 animals was affected with the ASF virus. The pig farm analysed in this paper is located in an area where ASF was confirmed earlier in both backyard and wild boars. In this study, we describe the overall epidemiological course of the ASF outbreak. Epidemiological investigation using a hypothesis-based approach was conducted in order to reconstruct the disease course until the official notification. All the available data from the farm were analysed with the aim to determine the high-risk period (HRP). Some of the key points to consider when it comes to the sources of infection and entry route of ASF are the following: contamination of the area in the immediate vicinity of the farm, risky human activities, irregularities and some omissions in the external farm biosecurity and immediate proximity of the city waste-yard where the communal waste is disposed of. It was concluded that when commercial pig farms are surrounded by villages with a large number of backyards, hence the anthropogenic factor is the key risk factor for ASF spreading.

This paper critically evaluates the draft version of the US Merger Guidelines from 2023 (D23), which departs from the consumer welfare standard, sparking intense debates within the academic, professional, and business communities. D23, released by the US Department of Justice and the Federal Trade Commission, introduces a shift toward a more structuralist approach in horizontal merger assessment. The paper examines the diverse perspectives of D23, with some perceiving it as a populist move sidelining economic rationale and others viewing it as an attempt to base decisions on factual grounds and enhance antitrust activism. The discussion emphasises the importance of precision in defining relevant markets within D23, a crucial element in merger assessment. This analysis sheds light on the evolving landscape of merger policy, prompting critical inquiries into the future trajectory of competition law. [ABSTRACT FROM AUTHOR]

In this paper we analyse the horizontal merger of companies in an already concentrated industry. The participants in mergers are obliged to submit notification to the Competition Commission but they also have the option of rejecting the merger. At the time of the notification submission the participants do not know whether the Commission is strong or weak, and they can complain to the Court if the Commission prohibits the merger. We model the strategic interaction between Participants and Commission in a dynamic game of incomplete information and determine weak perfect Bayesian equilibria. The main finding of our paper is that Participants will base their decision to submit notification on their belief in a weak Commission decision and will almost completely ignore the possibility of a strong Commission decision. We also provide a detailed examination of one case from Serbian regulatory practice, which coincides with the results of our game theoretical model.

This paper reviews some multi-unit auction mechanisms that are used in the procurement of electricity. In ordinary multi-unit auctions bidders compete to buy several units of the same object from the seller, while in procurement or reverse auctions suppliers of electricity compete to sell a certain number of units. Reverse electricity auctions are used in numerous countries and they create a competitive market for electricity, instead of state-owned monopolies providing electricity at administratively set prices. In this paper we will present the most commonly used multi-unit auction forms in electricity markets. Auctions for electricity from renewable energy sources deserve special attention, since these suppliers cannot compete with large-scale producers at the present state of technology.

A recent market liberalisation of commercial passenger rail services since 2020 has brought a new era for long-distance transport in the EU. However, drawing from the experiences of countries with unsuccessful entry attempts, we investigate the effects of asymmetric train access charges (TAC). Asymmetric access regulation is based on lower access charges for entrants than for incumbents for a limited period in order to induce convergence of railway undertakings' (RU) market shares. Intending to compare the effects of symmetric and asymmetric TAC, we model oligopoly competition in the number of offered seats between the incumbent (Inoui) and entrant (Trenitalia) on the Paris–Lyon line, the first case of asymmetric TAC regulation on railways. In the first year of competition, consumer surplus, entrant's profit, and total welfare without infrastructure manager's profit increased with asymmetric TAC compared to symmetric TAC without discounts. As the discount for entrant diminishes over time, all previous welfare elements monotonically decline. By introducing new departures and running double trainsets, the entrant can reverse this monotonically declining trend. This implies that asymmetric TAC should provide additional incentives for entrants to increase their frequency and number of offered seats. [ABSTRACT FROM AUTHOR]

Unlike other natural disasters, the coronavirus disease pandemic is global in character, which is why interest among researchers in the price gouging phenomenon is on the rise. Without disputing many solid arguments favouring the market mechanism, we will reconsider the goals and means of potential government intervention. One possibility lies in economic regulation, the other in competition law. In the first case, price ceilings are usually imposed for necessary goods, followed by rationing and export restrictions. On the other hand, competition policy focuses on preventing the exercise of temporary market power. We will try to show that market failures can provide specific arguments for regulation but relying on competition protection policy seems unjustified. Still, since the critical issue is defining excessive prices in the short run, we expect competition authorities to address this issue, considering that they are permanently monitoring various markets. [ABSTRACT FROM AUTHOR]

Copyright of Ekonomske Ideje i Praksa is the property of Centar za Izdavacku Delatnost Ekonomskog Fakulteta u Beogradu and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Ekonomske Ideje i Praksa is the property of Centar za Izdavacku Delatnost Ekonomskog Fakulteta u Beogradu and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)