Competition authority
A competition authority , including antitrust , antitrust or competition watchdog called, is a regulating operating authority with the task of negative effects of concentrations of power to fight on markets. Antitrust law forms the legal basis for the activities of the competition authority . Corresponding authorities exist in almost all countries with a market economy. A distinction must be made between the competition authority and the specific regulatory authorities that exist in various economic sectors .
The reason for the creation of competition authorities is the consideration that concentrations of power as a form of market failure can lead to economically inefficient use of resources and undesirable distributional effects.
The tasks and competencies of the competition authorities are often regulated very similarly in different countries: A competition authority can usually, under certain conditions , prohibit cartels , company mergers and the abuse of dominant positions , and impose fines.
Competition authorities from numerous countries exchange their experiences in organizations such as the European Competition Authority , the European Competition Network , the International Competition Network or the OECD .
List of authorities
Web links
- European competition authority
- National competition authorities in Europe at the Federal Cartel Office
Individual evidence
- ^ Gambia Competition Commission. Retrieved January 22, 2019 .
- ↑ Consiliul Concurentei Romania: ABOUT US. Competition Council, accessed February 6, 2020 .