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The economics of competition law have grown steadily in importance as regulatory authorities have moved to adopt more economics-based concepts when deciding what constitutes non-competitive behaviour. Most of the key strands of competition enforcement - such as vertical restraints, joint dominance, portfolio power and abuse - now rest squarely on economic principles. This new edition of an acclaimed work provides an overview of economic theory and analysis as applied to European competition law, and covers the important legislative, regulatory and policy developments of the past three years since publication of the first edition. * Clearly explains the concepts and analytical techniques that lawyers working in competition and mergers need to know * Written specifically for lawyers, explaining an unfamiliar subject in language they can understand * Looks at both economic theory and the empirical techniques employed in European competition law * Reinforces its explanations with examples drawn from Commission decisions and Court judgments * Covers the rapid evolution of the subject since the previous edition