Submitted to the Foculty of Groduqte Studies ond Reseorch in portiol ...

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the merits ond demerits ôf the legislotion' A point is mode
of suggesting remedies whene these are cqlled for.
These ore omong the findings: -
The legislotion does not interfere with the stnucture of
industry, ond in this woy leqves scope for dynomic chonges ond
efficiency improvements, For a country like Denmork, which is
chorocterized by o srnol1 morket qnd firm size, this qttitude
is bosicolly correct.
The conduct opprooch, with the rule of reoson' entoils s
consideroble degree of conrplexity ancl uncertÕíntyr but the Dones
hqve properly met this rlif f iculty by entrusting the decision-
moking power with o speciolizãd odjudicotive body.
Avsiloble doto, which ore rother poor, give to understond
thot the legislotion hqs been successful in preventing
unrecsonoble prices, os it wos intended to do. However, even if
doto on prices ond profits, the conventionol yordsticks of
morket power, were plentiful, they might not be conclusive in
identifying such power, since o voriety of foctors ond forces
come into ploy,
There ore indirect results¡ such os the estoblishment by
the legislot j.on of o permonent diologue between governnrent,
business, ond consumers, beneficiol puþlicity effects, ond o
contrit¡ution to industriol peoce.
Together these focts seem to indiccte thot the Dcrnish mono-
polies legislction provides qn effective meons of controlling
industry in the Public interest.