20463 - COMPETITION POLICY, REGULATION AND LIBERALIZATIONS
CLMG - M - IM - MM - AFC - CLAPI - CLEFIN-FINANCE - CLELI - ACME - DES-ESS - EMIT
Course taught in English
Go to class group/s: 31
The course aims at equipping students with tools to interpret the economics of competition policy, regulation and liberalization. The course reviews the main theoretical tools as well as antitrust cases and regulatory and liberalization plans in network industries and public utilities.
- Competition Policy.
- History, goals and norms.
- Market power and social welfare.
- Market definition and assessment of market power.
- Horizontal Agreements.
- Horizontal mergers.
- Vertical restraints and vertical mergers.
- Abuse of dominance and foreclosure.
- Natural monopoly and contestability.
- Optimal regulation under symmetric information: Ramsey pricing.
- Optimal regulation under asymmetric information: moral hazard and adverse selection.
- Regulatory schemes: price cap, rate of return, yardstick regulation.
- Competition for the market and franchise bidding.
- Design of the industry structure: horizontal and vertical unbundling.
- Design of ownership structure: privatization.
- Design of public policies: antitrust and regulation.
The exam is in written form.
M. MOTTA, Competition Policy. Theory and Practice, Cambridge, Cambridge University Press, latest edition.
A more complete reading list will be provided.