Cambridge International Trade and Economic Law: The Relevant Market in International Economic Law: A Comparative Antitrust and GATT Analysis

This book provides what international trade law has hitherto lacked: a coherent analysis of 'product likeness' under Article III of the GATT. Christian A. Melischek develops an economic approach to the interpretation of 'like' products on the basis of a comparative analysis with antitrust theories on market definition. Not only does he propose a specific substantive economic test to render the notion of product likeness operational, but he also examines the institutional and procedural frameworks for expert economic evidence necessary to implement an economic approach to the interpretation of product likeness. On a methodological level, the book adds a new interdisciplinary dimension to the legal debate by exploring the use of quantitative and econometric methods for the implementation of the proposed economic test.

Introduction; 1. The research question and scope of the study; 2. Practical relevance of the research question; 3. Methodology and structure; Part I. Comparison of Antitrust and International Trade Law: 4. Emphasizing differences or commonalities?; 5. Antitrust law; 6. WTO/GATT law; 7. Congruence in efficiency and welfare standards; Part II. The Role of Market Definition: 8. Antitrust law; 9. Article III of the GATT; 10. Conclusion; Part III. Analytical Evolution from the Traditional to the Economic Approach: 11. The traditional formalistic approach; 12. The economic approach; 13. Assessment of the analytical evolution; 14. Conclusion; Part IV. Conceptualizing an Economic Approach to Market Definition: 15. Introduction; 16. Market definition framework: a matter of treaty interpretation; 17. The content of a marketplace-test; 18. Potential competition; 19. The relevant 'market' concept; 20. The role of the traditional criteria; 21. Making sense of the different Article III prohibitions; 22. Conclusion; Part V. The Implementation of an Economic Approach: Quantitative Methods: 23. Introduction; 24. The law and economics of expert economic testimony; 25. Analysis of price elasticities of demand.