Nicolas Petit is the joint chair in competition law at the Department of Law and Robert Schuman Centre for Advanced Studies at European University Institute. He is also an invited professor at the College of Europe in Bruges. Petit is on special leave from the Law School of the University of Liege (ULiege), where he has been a full professor since 2007. Petit received his PhD from ULiege. Prior to joining the EUI, Petit held a public office position as a part-time judge with the Belgian competition authority and worked in private practice with a leading U.S. law firm in Brussels. Petit is the author of Big Tech and the Digital Economy: The Moligopoly Scenario (Oxford University Press, 2019), co-author of EU Competition Law and Economics (Oxford University Press, 2012) and author of Droit européen de la concurrence (Domat Montchrestien, 2013 and 2018), a monograph which was awarded the prize for the best law book of the year at the Constitutional Court in France. In 2005 he was a member of Harvard Law School’s Visiting Researchers Programme. Petit’s work has appeared in numerous journals including the Antitrust Law Journal, the European Law Review, the Review of Industrial Organization, the Columbia Journal of European Law and the Fordham Intellectual Property, Media & Entertainment Law Journal. Petit is the 44th top SSRN author in the category “Law.” Since 2017, he has been a member of the European Commission High Level Expert Group on Artificial Intelligence.
As a goal of antitrust, the consumer welfare standard has borne unfair attacks, which we refuted in a previous article. In this second article, we explain how the consumer welfare standard, understood as a method rather than as a set of goals, enables antitrust authorities and courts to navigate the inherent ambiguities of the competitive process and facilitate procompetitive outcomes.
Nicolas Petit and Lazar Radic refute common critiques of the consumer welfare standard. A second article will discuss the advantages and disadvantages of different antitrust standards, underscoring some points often ignored by the critics of the consumer welfare standard.
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