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A Neo-Kantian approach to Competition Law? – The re- emergence of Fairness in Antitrust Law & Policy

Kianzad, Behrang LU (2025)
Abstract
During times of crisis, such as the COVID-19 pandemic, policymakers and the public reveal a strong preference for fairness in pricing even when that would reduce efficiency. For example, they support the application of price gouging laws that prevent prices for necessities from skyrocketing but probably also dampen incentives for firms to produce more and alleviate the shortage. More generally, a growing body of research reveals that consumers have a strong preference for fairness over wealth maximization. This suggests that in making price policy, governments should abandon neoclassical economics and its wealth maximization criterion in favor of an approach that treats fairness in pricing as a first principle and paramount value. The... (More)
During times of crisis, such as the COVID-19 pandemic, policymakers and the public reveal a strong preference for fairness in pricing even when that would reduce efficiency. For example, they support the application of price gouging laws that prevent prices for necessities from skyrocketing but probably also dampen incentives for firms to produce more and alleviate the shortage. More generally, a growing body of research reveals that consumers have a strong preference for fairness over wealth maximization. This suggests that in making price policy, governments should abandon neoclassical economics and its wealth maximization criterion in favor of an approach that treats fairness in pricing as a first principle and paramount value. The chapter considers the implications of this "neo-Kantian" approach to price policy for antitrust law and policy in particular. (Less)
Please use this url to cite or link to this publication:
author
organization
publishing date
type
Chapter in Book/Report/Conference proceeding
publication status
published
subject
host publication
Toward an Inframarginal Revolution : Redistributing the Gains from Trade - Redistributing the Gains from Trade
editor
Woodcock, Ramsi
publisher
Cambridge University Press
ISBN
9781009306720
DOI
10.1017/9781009306720.010
project
Fairness and Digital Markets in European Law and Economics
language
English
LU publication?
yes
id
af8d4e54-9b9c-4c9b-8252-f878a0d82cdc
date added to LUP
2024-09-27 18:14:35
date last changed
2025-12-19 11:37:55
@inbook{af8d4e54-9b9c-4c9b-8252-f878a0d82cdc,
  abstract     = {{During times of crisis, such as the COVID-19 pandemic, policymakers and the public reveal a strong preference for fairness in pricing even when that would reduce efficiency. For example, they support the application of price gouging laws that prevent prices for necessities from skyrocketing but probably also dampen incentives for firms to produce more and alleviate the shortage. More generally, a growing body of research reveals that consumers have a strong preference for fairness over wealth maximization. This suggests that in making price policy, governments should abandon neoclassical economics and its wealth maximization criterion in favor of an approach that treats fairness in pricing as a first principle and paramount value. The chapter considers the implications of this "neo-Kantian" approach to price policy for antitrust law and policy in particular.}},
  author       = {{Kianzad, Behrang}},
  booktitle    = {{Toward an Inframarginal Revolution : Redistributing the Gains from Trade}},
  editor       = {{Woodcock, Ramsi}},
  isbn         = {{9781009306720}},
  language     = {{eng}},
  publisher    = {{Cambridge University Press}},
  title        = {{A Neo-Kantian approach to Competition Law? – The re- emergence of Fairness in  Antitrust Law & Policy}},
  url          = {{http://dx.doi.org/10.1017/9781009306720.010}},
  doi          = {{10.1017/9781009306720.010}},
  year         = {{2025}},
}