This best-selling text is still the most modern presentation of the subject. The Varian approach gives students tools they can use on exams, in the rest of their classes, and in their careers after graduation.

On 3 July 2001 the European Commission declared the proposed merger between General Electric and Honeywell incompatible with the common market (Commission, Decision of 3 July 2001, Case no COMP/M.2220). It was the first interdiction of a merger of two US companies by the European Commission where the US authorities had previously allowed it. The main reason for this contradiction is the different perception of the concept of market power. As the merging companies produced complementary goods, the merger led to a decrease of prices. In the US an increase of market power is tolerated if the consumers profit of lower prices. The EC-concept condemns an increase of market power irrespective its consequences. This thesis aims to explain this conceptual difference by analyzing the ECsystem of competition law. 2001 Temmuz’unda Avrupa Komisyonu General Electric ile Honeywell arasındaki birleşmenin ortak pazara aykırı olduğunu ilân etmiştir (3 Temmuz 2001 tarihli Komisyon Kararı, Dava no COMP/M.2220). Bu karar Avrupa Komisyonu’nun ABD otoritelerinin önceden onayladığı iki ABD menşeili şirketin birleşmenin ilk kez yasaklanmasıydı. Bu çelişkinin en önemli nedeni piyasa hâkimiyeti kavramının farklı algılanmasıdır. Birleşen şirketler birbirini tamamlayan mallar ürettikleri için birleşme fiyatların düşmesine neden olur. ABD’de piyasa hâkimiyeti tüketicilerin düşük fiyatlara ulaşmasını sağlıyorsa hoşgörülebilir. AT’de ise piyasa hâkimiyetinin artması kavramı sonuçlarına bakılmaksızın kâbul edilmez. Bu tez AT rekabet hukukunu inceleyerek kavramsal farklılığı tanımlamayı amaçlamaktadır.

Intermediate microeconomics : A modern approach

The decision general electric/honeywell explanation of the principles that led to this decision

Determinanty inwestycji jako przedmiot oddziaływania polityki banku centralnego

Expected Utility Theory Further Economic Analysis

Leaning on the loan pricing theory, this study provided empirical proof of the existence of adverse selection in the Nigerian credit market using the interrelation between the lending rate and non-performing loans as a decision factor. The paper employed Augmented Dickey Fuller (ADF), Phillips Perron (PP), and Kwiatkowski–Phillips–Schmidt–Shin (KPSS) for stationarity tests, Autoregressive Distributed Lag (ARDL) Bound Test for cointegration and an ARDL model for the regression analyses using quarterly data. The results of the analyses showed a positive and consequential link connecting non-performing loans and lending rates, proving the existence of adverse selection in the Nigerian credit market in the short-run and long-run. Based on the results, the study recommends that the apex bank implement a price ceiling in the credit market. Banks and other financial institutions should properly define their lending rates given their cost of funds and other operational expenses. And hence, carefully select viable borrowers from the credit market that suit the bank’s credit policy rather than adjust the lending rate up to compensate for higher risk.

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Intermediate microeconomics : A modern approach

Citations

The decision general electric/honeywell explanation of the principles that led to this decision

Determinanty inwestycji jako przedmiot oddziaływania polityki banku centralnego

Expected Utility Theory Further Economic Analysis

Loan performance and lending rate: Testing the existence of adverse selection in the Nigerian credit market

Milk production analysis with a flexible frontier production model

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