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(p. 1055) 27. Competition Law: Article 102 

(p. 1055) 27. Competition Law: Article 102
Chapter:
(p. 1055) 27. Competition Law: Article 102
Author(s):

Paul Craig

and Gráinne de Búrca

DOI:
10.1093/he/9780198714927.003.0027
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date: 20 June 2021

All books in this flagship series contain carefully selected substantial extracts from key cases, legislation, and academic debate, providing able students with a stand-alone resource. This chapter focuses on another principal provision concerned with competition policy: Article 102 TFEU. The essence of Article 102 is the control of market power, whether by a single firm or, subject to certain conditions, a number of firms. Monopoly power can lead to higher prices and lower output than would prevail under more normal competitive conditions, and this is the core rationale for legal regulation in this area. Article 102 does not, however, prohibit market power per se. It proscribes the abuse of market power. Firms are encouraged to compete, with the most efficient players being successful.

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