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The striving for a monopoly position is probably as old as civilised mankind. Like the man of Sicily, people at all times have tried to restrict competition and enjoy the best of all monopoly profits: A quiet life! (Hicks, 1935). And indeed, it is easy to imagine that the alternative to an iron monopoly – some form of competition between different iron mines and iron distributors – would not have been a quarter as nice for the man of Sicily. Challenged by vertically integrated iron mines as well as rival distributors with probably more efficient production possibilities, better quality products or more innovative ideas to market the products, he would have had to work hard in order to prevail and to make a living.
KeywordsStrategic Behaviour Competition Policy Horizontal Merger Merger Control Antitrust Authority
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