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Idot, Laurence --- "Modern Industrial Economics Revisited – Comments on Daniel Rubinfeld, Michele Polo and Oliver Budzinski" [2011] ELECD 344; in Drexl, Josef; Kerber, Wolfgang; Podszun, Rupprecht (eds), "Competition Policy and the Economic Approach" (Edward Elgar Publishing, 2011)

Book Title: Competition Policy and the Economic Approach

Editor(s): Drexl, Josef; Kerber, Wolfgang; Podszun, Rupprecht

Publisher: Edward Elgar Publishing

ISBN (hard cover): 9781848448841

Section: Chapter 7

Section Title: Modern Industrial Economics Revisited – Comments on Daniel Rubinfeld, Michele Polo and Oliver Budzinski

Author(s): Idot, Laurence

Number of pages: 8

Extract:

7. Modern industrial economics
revisited ­ comments on Daniel
Rubinfeld, Michele Polo and Oliver
Budzinski
Laurence Idot*

With three highly qualified economists, I am not sure I am a well placed
authority to make some comments since I am a pure classical lawyer, with
a background in international private law and EU law. I could add: a
rather old lawyer since I began to study EU competition law in 1972 with
the famous Dyestuffs case of the European Court of Justice.1 However, it
was not only the topic of my exam; there is also a clear link with the topic
of this chapter since a rather interesting discussion occurred before the
Court on the economic analysis of parallel conduct in a tight oligopoly.
Almost forty years later, a lot of things have changed of course. The major
event probably was the establishment of specific merger control in the EU
and the adoption of Regulation 4064/89 on merger control2 which was fol-
lowed by the important influx of economists in antitrust teams and later
the introduction of the so-called `modern industrial economics'. The state
of modern industrial economics has been exposed by Oliver Budzinski and
I will follow his definition.
The three essays I comment upon are very rich and full of information
and data, which enable me to make very simple and naïve comments. I
could copy the title of a famous article, which was written in the 1960s by
a famous French professor of public law ...