The anatomy of price gouging: A regulatory or competition law antidote
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...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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University of Belgrade, Faculty of Law, Belgrade, Serbia
2022-01-01
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| Series: | Anali Pravnog Fakulteta u Beogradu |
| Subjects: | |
| Online Access: | https://scindeks-clanci.ceon.rs/data/pdf/0003-2565/2022/0003-25652202373N.pdf |
| _version_ | 1818465715779272704 |
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| author | Njegovan Nikola Ristić Bojan |
| author_facet | Njegovan Nikola Ristić Bojan |
| author_sort | Njegovan Nikola |
| collection | DOAJ |
| description | 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. |
| first_indexed | 2024-04-13T20:49:18Z |
| format | Article |
| id | doaj.art-b6e5cfe618644bb28a61f9c588f2d1a2 |
| institution | Directory Open Access Journal |
| issn | 0003-2565 2406-2693 |
| language | English |
| last_indexed | 2024-04-13T20:49:18Z |
| publishDate | 2022-01-01 |
| publisher | University of Belgrade, Faculty of Law, Belgrade, Serbia |
| record_format | Article |
| series | Anali Pravnog Fakulteta u Beogradu |
| spelling | doaj.art-b6e5cfe618644bb28a61f9c588f2d1a22022-12-22T02:30:35ZengUniversity of Belgrade, Faculty of Law, Belgrade, SerbiaAnali Pravnog Fakulteta u Beogradu0003-25652406-26932022-01-0170237339710.51204/Anali_PFBU_22201A0003-25652202373NThe anatomy of price gouging: A regulatory or competition law antidoteNjegovan Nikola0Ristić Bojan1https://orcid.org/0000-0002-9883-8914University of Belgrade, Faculty of Economics, SerbiaUniversity of Belgrade, Faculty of Economics, SerbiaUnlike 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.https://scindeks-clanci.ceon.rs/data/pdf/0003-2565/2022/0003-25652202373N.pdfprice gougingexcessive pricescompetition lawregulationwindfall market power |
| spellingShingle | Njegovan Nikola Ristić Bojan The anatomy of price gouging: A regulatory or competition law antidote Anali Pravnog Fakulteta u Beogradu price gouging excessive prices competition law regulation windfall market power |
| title | The anatomy of price gouging: A regulatory or competition law antidote |
| title_full | The anatomy of price gouging: A regulatory or competition law antidote |
| title_fullStr | The anatomy of price gouging: A regulatory or competition law antidote |
| title_full_unstemmed | The anatomy of price gouging: A regulatory or competition law antidote |
| title_short | The anatomy of price gouging: A regulatory or competition law antidote |
| title_sort | anatomy of price gouging a regulatory or competition law antidote |
| topic | price gouging excessive prices competition law regulation windfall market power |
| url | https://scindeks-clanci.ceon.rs/data/pdf/0003-2565/2022/0003-25652202373N.pdf |
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