|Title of host publication||The Global Dictionary of Competition Law|
|Editors||Deborah Healey , Bill Kovacic, Pablo Trevisán, Richard Whish|
|Number of pages||4|
|Publication status||Accepted/In press - 27 Jul 2021|
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.
- administered (regulated) prices