FIRST MODERN INSTITUTIONS OF COMPETITION REGULATION – LAW AND ECONOMICS OR LAW VERSUS ECONOMICS?

Competition regulation nowadays is a result of a nexus of many intertwined phenomena, which under different circumstances might bring different results. Throughout the history of this process it is easy to observe quite complicated relationship between economic theories of competition and theory and practice of law. It might look, as if institutions regulating competition are simple realisation of economic theories. The truth is different, as competition regulation originated in times, when complex theoretical analysis of that type was not condemning trusts and was generally leaning towards self-regulatory powers of competition. The main theme of this paper is an attempt to identify the way of introducing the first modern competition regulation law. In the conclusion, the paper substantiates the hypothesis, that the economics played insignificant role in the whole process, it even might be stated, that the Sherman Antitrust Act was introduced despite the economists’ scepticism towards such way of regulation of markets. In the analysis other explanations for the Act emerge: one rooted in public choice theory, the other taking into consideration motives of possible personal revenge of Sen. Sherman

REGULACJA PIONOWEJ INTEGRACJI PRZEDSIĘBIORSTW – POMIĘDZY TEORIĄ EKONOMII A PRAKTYKĄ PRAWA

Cooperation of companies in the production chain is one of the less frequently discussed issues in economics, both theoretically and practically. Vertical integration of enterprises can take two forms: vertical mergers and vertical restraints, which are used in different situations in order to reduce transaction costs, ensure stability of supply and overall coordination. Both of these aspects of integration lead to certain internal and external effects which may have either a positive or negative influence on competition, markets and the economy as a whole. Hence, the are differences among researchers as well as regulators in the perception and evaluation of the phenomena associated with vertical integration of enterprises. The aim of this article is to present the current output of the theoretical analysis of regulation of vertical integration of enterprises and a reference of the output to the world's current legal solutions that are derived from the U.S. laws. The author hypothesizes that, owing to the multidimensional nature and potentially opposite effects of the processes of integration, they must be considered individually, but a certain group of determinants that can help in the evaluation of these processes in terms of competition and welfare may be indicatedWspółpraca przedsiębiorstw znajdujących się w łańcuchu produkcji jest jednym z rzadziej dyskutowanych w ekonomii zagadnień, zarówno teoretycznie, jak i praktycznie . Pionowa integracja przedsiębiorstw może przyjmować dwie formy: łączenia się przedsiębiorstw (vertical mergers) i ograniczeń umownych (vertical restraints), które stosowane są w różnych sytuacjach w celu redukcji kosztów transakcyjnych, zapewnienia stabilności dostaw i ogólnej koordynacji działań. Oba te aspekty integracji prowadzą do określonych efektów wewnętrznych i zewnętrznych, które mogą mieć różnoraki, zarówno pozytywny, jak i negatywny, wpływ na konkurencję, rynki i gospodarkę jako całość. Stąd wynikają różnice w postrzeganiu i ocenianiu zjawisk związanych z integracją pionową przedsiębiorstw pomiędzy naukowcami, jak również regulatorami.Celem niniejszego artykułu jest zaprezentowanie aktualnego dorobku teoretycznej analizy regulacji pionowej integracji przedsiębiorstw i odniesienie go do aktualnie obowiązujących na świecie rozwiązań prawnych, które wywodzą się z prawa amerykańskiego. Autor stawia hipotezę, że procesy integracyjne, ze względu na swój wielowymiarowy charakter i potencjalnie przeciwstawne efekty muszą być rozpatrywane indywidualnie, ale jednocześnie można wskazać pewną grupę determinant, które pomóc mogą w ocenie tych procesów z punktu widzenia konkurencji i dobrobytu

Praca jako zasób - pojęcie pracy i jej znaczenie w naukach ekonomicznych

The main goal of this paper is to present the significance of the term labour, and to point out its role as a factor of production in chosen schools of economics. The studies conducted in the paper have purely theoretical scope and had been undertaken based on the analysis of Polish and foreign literature. In Polish writings, one can notice some inaccuracy in understanding labour, its divisions and place among factors of production. In the first part of this paper the reader can find historical overview of economic analysis of labour and its significance as a factor of production. Second part concerns problems and impreciseness in studies over labour and its place in economics.Celem artykułu jest prezentacja pojęcia pracy ze wskazaniem jej znaczenia i roli jako zasobu w wybranych nurtach nauk ekonomicznych. Rozważania podjęte w artykule mają charakter teoretyczny, zostały sformułowane w oparciu o analizę krajowej i zagranicznej literatury przedmiotu. W krajowym piśmiennictwie przedmiotu dostrzec można nieprecyzyjność w rozumieniu pracy, jej podziałów i miejsca wśród czynników produkcji. Niniejsze opracowanie prezentuje w pierwszej części historyczny rys ekonomicznych analiz pracy i jej znaczenia, jako czynnika produkcji. Druga część dotyczy problemów i nieścisłości w rozumieniu pracy i jej miejsca we współczesnych naukach ekonomicznych

WŁASNOŚĆ W PRAWIE I EKONOMII - PRZYPADEK "PRAWA ŚNIEGU"

Despite the recognised absolute character of proprietorship one has to take into consideration certain restraints resulting from contracts or rules of law. An example of this might be "snow-law", that functions in, for example, Switzerland or Austria. These countries permit to use third party real estate for the common good. From the point of view of the economics and the law it seems necessary to regulate the issue of using third party real estates in mountainous areas during the winter. The presented paper is an attempt to judge such an issue and present certain possible solutions from the point of view of the law and economics.Ekonomiczna analiza praw własności jest względnie nowym sposobem badania problemów własności. O wiele starsze, z zarazem szersze podjecie reprezentowane jest przez nauki prawnicze oraz filozofię. Większą część ekonomicznych analiz własności jest pośrednio lub bezpośrednio związana z omówionym wyżej teorematem Coase'a, którego znaczenie jest nie do przecenienia. Prostota tego stwierdzenia pozwala na szeroką jego aplikację, co uczyniono również w powyższym artykule. Problemem, który rozważano, było tzw. "prawo śniegu" - kontrowersyjna propozycja Ligi Polskich Rodzin dotycząca prawnego uregulowania użytkowania nieruchomości w czasie zimy. Jak wykazano w artykule na gruncie prawa propozycja ta jest nie do odrobienia

The system of higher education in Poland during the transition

Polish system of higher education has undergone series of changes since 1989 i.e. the beginning of the transition. The development of non-public higher education created a various characteristics specific to Poland and even a series of peculiarities. This paper presents an analysis of this process from the point of view of both neoclassical and institutional economics. The main goal of this paper is to present an initial assessment of the features of Polish higher education services throughout the transition. The author wishes to present some argument to confirm the general hypothesis, that higher education services in Poland are in serious problem concerning the shape of the market and unless they are left to evolve further, we might expect a serious breakdown of the education system.</p

The system of higher education in Poland during the transition

Polish system of higher education has undergone series of changes since 1989 i.e. the beginning of the transition. The development of non-public higher education created a various characteristics specific to Poland and even a series of peculiarities. This paper presents an analysis of this process from the point of view of both neoclassical and institutional economics. The main goal of this paper is to present an initial assessment of the features of Polish higher education services throughout the transition. The author wishes to present some argument to confirm the general hypothesis, that higher education services in Poland are in serious problem concerning the shape of the market and unless they are left to evolve further, we might expect a serious breakdown of the education system

Changes in the video games industry from the perspective of intellectual property rights

Considerations contained in this paper apply to changes that are currently taking place in the video game industry. According to very conservative estimates, the revenue the video game market is expected to grow to 82 billion dollars by 2017. This makes that video game industry, hitherto little explored by economists, can be an interesting subject of study. The main emphasis of this paper has been placed on the analysis of the impact of changes in the perception of property rights, both absolute as well as relative. They affect the performance of many of those involved in the video game industry: producers (who create the relevant product), publishers (dealing with marketing, production and financing physical creation of the game), distributors (involved in the distribution of physical as well as digital), players and other businesses and people from the environment. The paper initially identified general problems that arise from changes in the perception of property rights. Firstly, monetary externalities in a situation of incomplete markets are not fully internalized by the market mechanism. Secondly, the real external effects mean that the markets side effects occur among third parties. Thirdly, feedback can occur between the first two problems, intensifying their activities. Fourthly, in a situation of relative property rights there can be observed the problem of precontractual opportunism, which may cause a breach of property rights during the preparation and negotiation of a contract. Fifthly, there can be observed postcontractual opportunism, which is the engine of breaches of contract after its agreement and conclusion. Next, the paper indicates manifestations of these problems that are taking place in the video game industry: the use of technology restricting the exchange in response to the intensification of piracy, the emergence of adverse selection on many levels (because the video game industry is a network of contracts) or the occurrence of the phenomenon of moral hazard. Next, in the paper there are determined the consequences of these problems which can be expected, and how in such a situation the entities engaged in business may react. One can expect, for example: searching for better protection against imitation and unauthorized copying, increased costs of producers and publishers, increased pressure on subcontractors, negative incentives for innovation, the development of technology security breaches, adverse selection and moral hazard on many levels. In the conclusion the series of phenomena are identified, both negative and positive, that occur or may occur in the video game industry. There might be a reduction in the incentives to invest and develop the industry, followed by an escalation of piracy, rising prices or reduced quality of the products. These effects definitely lead to a reduction in welfare. On the other hand, there are innovations leading to the development of the industry in the directions previously unexplor

REGULATION OF VERTICAL INTEGRATION OF ENTERPRISES: BETWEEN ECONOMIC THEORY AND THE PRACTICE OF LAW

Cooperation of companies in the production chain is one of the less frequently discussed issues in economics, both theoretically and practically. Vertical integration of enterprises can take two forms: vertical mergers and vertical restraints, which are used in different situations in order to reduce transaction costs, ensure stability of supply and overall coordination. Both of these aspects of integration lead to certain internal and external effects which may have either a positive or negative influence on competition, markets and the economy as a whole. Hence, the are differences among researchers as well as regulators in the perception and evaluation of the phenomena associated with vertical integration of enterprises. The aim of this article is to present the current output of the theoretical analysis of regulation of vertical integration of enterprises and a reference of the output to the world's current legal solutions that are derived from the U.S. laws. The author hypothesizes that, owing to the multidimensional nature and potentially opposite effects of the processes of integration, they must be considered individually, but a certain group of determinants that can help in the evaluation of these processes in terms of competition and welfare may be indicated</div

FIRST MODERN INSTITUTIONS OF COMPETITION REGULATION – LAW AND ECONOMICS OR LAW VERSUS ECONOMICS?

Competition regulation nowadays is a result of a nexus of many intertwined phenomena, which under different circumstances might bring different results. Throughout the history of this process it is easy to observe quite complicated relationship between economic theories of competition and theory and practice of law. It might look, as if institutions regulating competition are simple realisation of economic theories. The truth is different, as competition regulation originated in times, when complex theoretical analysis of that type was not condemning trusts and was generally leaning towards self-regulatory powers of competition. The main theme of this paper is an attempt to identify the way of introducing the first modern competition regulation law. In the conclusion, the paper substantiates the hypothesis, that the economics played insignificant role in the whole process, it even might be stated, that the Sherman Antitrust Act was introduced despite the economists’ scepticism towards such way of regulation of markets. In the analysis other explanations for the Act emerge: one rooted in public choice theory, the other taking into consideration motives of possible personal revenge of Sen. Sherman.</p

WŁASNOŚĆ W PRAWIE I EKONOMII - PRZYPADEK "PRAWA ŚNIEGU"

Ekonomiczna analiza praw własności jest względnie nowym sposobem badania problemów własności. O wiele starsze, z zarazem szersze podjecie reprezentowane jest przez nauki prawnicze oraz filozofię. Większą część ekonomicznych analiz własności jest pośrednio lub bezpośrednio związana z omówionym wyżej teorematem Coase'a, którego znaczenie jest nie do przecenienia. Prostota tego stwierdzenia pozwala na szeroką jego aplikację, co uczyniono również w powyższym artykule. Problemem, który rozważano, było tzw. "prawo śniegu" - kontrowersyjna propozycja Ligi Polskich Rodzin dotycząca prawnego uregulowania użytkowania nieruchomości w czasie zimy. Jak wykazano w artykule na gruncie prawa propozycja ta jest nie do odrobienia