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This outstanding collection of original essays brings together some of the leading experts in competition economics, policy and law. They examine what lies at the core of the 'economic approach to competition law' and deal with its normative and institutional limitations. In recent years the more 'economic approach' has led to a modernisation of competition law throughout the world. This book comprehensively examines for the first time, the foundations and limitations of the approach and will be of great interest to scholars of competition policy no matter what discipline. Competition Policy and the Economic Approach will appeal to academics in competition economics and law, policy-makers and practitioners in the field of antitrust/competition law as well as postgraduate students in competition law and economics. Those interested in the interplay of law and economics in the field of competition will also find this book invaluable.