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Vol 22 No 2 Feb/March 2017

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Spencer Bower: Reliance-Based Estoppel

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The Relevant Market in International Economic Law: A Comparative Antitrust and GATT Analysis

ISBN13: 9781107031524
Published: November 2012
Publisher: Cambridge University Press
Country of Publication: UK
Format: Hardback
Price: £82.00

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This book provides what international trade law has hitherto lacked: a coherent analysis of 'product likeness' under Article III of the GATT. Christian A. Melischek develops an economic approach to the interpretation of 'like' products on the basis of a comparative analysis with antitrust theories on market definition. Not only does he propose a specific substantive economic test to render the notion of product likeness operational, but he also examines the institutional and procedural frameworks for expert economic evidence necessary to implement an economic approach to the interpretation of product likeness. On a methodological level, the book adds a new interdisciplinary dimension to the legal debate by exploring the use of quantitative and econometric methods for the implementation of the proposed economic test.

Competition Law, International Trade, Law and Economics
1. The research question and scope of the study
2. Practical relevance of the research question
3. Methodology and structure

Part I. Comparison of Antitrust and International Trade Law:
4. Emphasizing differences or commonalities?
5. Antitrust law
6. WTO/GATT law
7. Congruence in efficiency and welfare standards

Part II. The Role of Market Definition:
8. Antitrust law
9. Article III of the GATT
10. Conclusion

Part III. Analytical Evolution from the Traditional to the Economic Approach:
11. The traditional formalistic approach
12. The economic approach
13. Assessment of the analytical evolution
14. Conclusion

Part IV. Conceptualizing an Economic Approach to Market Definition:
15. Introduction
16. Market definition framework: a matter of treaty interpretation
17. The content of a marketplace-test
18. Potential competition
19. The relevant 'market' concept
20. The role of the traditional criteria
21. Making sense of the different Article III prohibitions
22. Conclusion

Part V. The Implementation of an Economic Approach: Quantitative Methods:
23. Introduction
24. The law and economics of expert economic testimony
25. Analysis of price elasticities of demand.