Competition means that businesses are under constant pressure to be better than their competitors, in order to win customers. Competition acts as a driver for innovation and technological progress, and this improves consumer welfare. Therefore, the interests of consumers are at the heart of competition policy. With the help of consumers, authorities such as the European Commission can take more effective action to prevent or prohibit anti-competitive practices sometimes observed on the market. Competition law in the theoretical model in a society sellers produce homogeneous products and all relevant consumers are fully informed before buying a product.
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This report analyses and critically evaluates the development and application of EU competition law. The evaluation is based on both relevant case law and academic criticism. The report outlines the elements and goals of EU competition law in order to understand the context within which the competition rules are set and the impact of those goals on the development and application of the EU competition law. The report draws conclusions regarding the success of EU competition law in meeting the EU policy goals and recommends for further reforms. The EU competition law deals with cartels, mergers, anti-competitive agreements and abuses of a dominant position, State intervention as well as the enforcement of competition rules.
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