Standardisation from a Law and Economics Perspective

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This chapter examines standardisation from a law and economics perspective. Taking efficiency as the main criterion, the advantages and disadvantages of private standardsetting will be discussed. We also discuss how legitimacy fits into this economic framework. We argue that potential problems of output legitimacy could be addressed by increasing countervailing power to strong industry lobbying groups, and we explain how increasing the legitmacy of private standardsetting may come at the expense of certain economic advantages of private standards in terms of higher flexibility and lower costs. Then the important question is addressed of whether harmonisation of standards is required from an economic perspective. Finally, we address the question of whether it is possible to enjoy the benefits of standardisation without its disadvantages, by considering hybrid forms of regulation and competition between standardsetting bodies, and by discussing the idea of applying the criteria of Article 101(3) TFEU to an analysis of standardisation.
Original languageEnglish
Title of host publicationThe Legitimacy of Standardisation as a Regulatory Technique. A Cross-Disciplinary and Multilevel Analysis
EditorsMariolina Eliantonio, Caroline Cauffman
Place of PublicationCheltenham
PublisherEdward Elgar Publishing
ISBN (Electronic)978-17-8990-295-2
ISBN (Print)978-1789902945
Publication statusPublished - Jun 2020

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