The Giant Awakens : Law and Economics of Excessive Pricing During the COVID-19 Crisis
(2022) In Economic Analysis of Law in European Legal Scholarship 13. p.123-176- Abstract
Price gouging of essential items, and the global debate on pricing of vaccines and treatments during the COVID-19 crisis, provide an optimal proxy to revisit the law and economics discourse on excessive pricing as an abuse of dominant position. Beyond a normative soul-searching of the efficiency v fairness debate, this chapter analyses excessive pricing cases during the COVID-19 pandemic in the EU, US, and South Africa. The assertion is made that neoclassical, marginalist, and welfarist law and economics schools will forever be in direct conflict with the black letter law of European Competition Law, which prohibits unfair, excessive pricing, and thus, other law and economics schools such as Keynesian, Behavioural, and Neuro-economics... (More)
Price gouging of essential items, and the global debate on pricing of vaccines and treatments during the COVID-19 crisis, provide an optimal proxy to revisit the law and economics discourse on excessive pricing as an abuse of dominant position. Beyond a normative soul-searching of the efficiency v fairness debate, this chapter analyses excessive pricing cases during the COVID-19 pandemic in the EU, US, and South Africa. The assertion is made that neoclassical, marginalist, and welfarist law and economics schools will forever be in direct conflict with the black letter law of European Competition Law, which prohibits unfair, excessive pricing, and thus, other law and economics schools such as Keynesian, Behavioural, and Neuro-economics offer far better congruence with the legislative intent and history of Article 102a TFEU.
(Less)
- author
- Kianzad, Behrang LU
- publishing date
- 2022
- type
- Chapter in Book/Report/Conference proceeding
- publication status
- published
- subject
- keywords
- Covid-19, European competition law, Excessive pricing, Law and economics, Price gouging
- host publication
- Law and Economics of the Coronavirus Crisis
- series title
- Economic Analysis of Law in European Legal Scholarship
- editor
- Mathis, Klaus and Tor, Avishalom
- volume
- 13
- pages
- 54 pages
- publisher
- Springer Nature
- external identifiers
-
- scopus:85167516803
- ISSN
- 2512-1308
- 2512-1294
- DOI
- 10.1007/978-3-030-95876-3_5
- language
- English
- LU publication?
- no
- additional info
- Publisher Copyright: © 2022, The Author(s), under exclusive license to Springer Nature Switzerland AG.
- id
- c8819540-4635-41ee-acbb-3fc242ea6167
- date added to LUP
- 2024-09-27 16:01:26
- date last changed
- 2024-10-01 12:42:03
@inbook{c8819540-4635-41ee-acbb-3fc242ea6167,
abstract = {{<p>Price gouging of essential items, and the global debate on pricing of vaccines and treatments during the COVID-19 crisis, provide an optimal proxy to revisit the law and economics discourse on excessive pricing as an abuse of dominant position. Beyond a normative soul-searching of the efficiency v fairness debate, this chapter analyses excessive pricing cases during the COVID-19 pandemic in the EU, US, and South Africa. The assertion is made that neoclassical, marginalist, and welfarist law and economics schools will forever be in direct conflict with the black letter law of European Competition Law, which prohibits unfair, excessive pricing, and thus, other law and economics schools such as Keynesian, Behavioural, and Neuro-economics offer far better congruence with the legislative intent and history of Article 102a TFEU.</p>}},
author = {{Kianzad, Behrang}},
booktitle = {{Law and Economics of the Coronavirus Crisis}},
editor = {{Mathis, Klaus and Tor, Avishalom}},
issn = {{2512-1308}},
keywords = {{Covid-19; European competition law; Excessive pricing; Law and economics; Price gouging}},
language = {{eng}},
pages = {{123--176}},
publisher = {{Springer Nature}},
series = {{Economic Analysis of Law in European Legal Scholarship}},
title = {{The Giant Awakens : Law and Economics of Excessive Pricing During the COVID-19 Crisis}},
url = {{http://dx.doi.org/10.1007/978-3-030-95876-3_5}},
doi = {{10.1007/978-3-030-95876-3_5}},
volume = {{13}},
year = {{2022}},
}