Administered Prices

Research output: Chapter in Book/Report/Conference proceedingEntry for encyclopedia/dictionary

Abstract

Administered (regulated) prices are requirements imposed on undertakings by governments or other public authorities. Such practices are usually driven by the intentions of regulators to remedy/prevent market failures and similar situations, which are likely to lead to undesirable macroeconomic and non-economic consequences. The prices prescribed imperatively by the public authorities, obscure microeconomic analysis as they are driven by the incentives, which are hard to internalise into equilibrium modelling. The instances of administrated prices are common and hardly avoidable as they are usually legally valid and have strong societal legitimacy appeal. For competition law, administered prices are the exogenous factors, which are capable of changing the outcomes of the assessment of anticompetitive practices.
Original languageEnglish
Title of host publicationThe Global Dictionary of Competition Law
EditorsDeborah Healey , Bill Kovacic, Pablo Trevisán, Richard Whish
Pages1—4
Number of pages4
Publication statusAccepted/In press - 27 Jul 2021

Keywords

  • administered (regulated) prices
  • regulators

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