Revista JRTMED vol. 11 nr. 2(22) 2024-22-39
METHODOLOGY FOR ASSESSING THE IMPACT OF ANTI-COMPETITIVE PRACTICES ON CONSUMER WELFARE IN FINANCIAL MARKETS
Ion MAXIM, Assoc. Prof., PhD
Trade Co-operative University of Moldova
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ORCİD: https://orcid.org/0000-0003-4409-1402
Victor LAȘCOV, PhD
Competition Council of Moldova
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ORCİD: https://orcid.org/0009-0002-1229-9524
DOI: https://doi.org/10.59642/JRTMED.2.2024.02
Universal Decimal Classification: 339.137.025:366.7
JEL Classification: G1, L4
Abstract
The purpose of this article is the assessment of the impact of anti-competitive practices on consumer welfare in financial markets. Although the assessment of the negative effects of anti-competitive practices is of particular interest to competition authorities in order to justify state intervention in the economy through competition policy, the debate on the effectiveness of competition policy does not stop. In order to analyse the impact of anti-competitive practices, the financial market has been structured starting from the consumer. Traditional methods of assessing the impact of anti-competitive practices often reduce consumer welfare to consumer surplus. For a complete analysis of the impact of anti-competitive practices on consumer welfare, the assessment of the change in consumer surplus is insufficient, because competition is not only manifested in price and quantity, but also in quality, innovation and variety. As a result of the research carried out, a methodology is proposed for assessing the impact of anti-competitive practices on consumer welfare in financial markets.
Keywords: competition, consumer, welfare, finance, market
