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List of Abbreviations

From: Economics for Competition Lawyers (2nd Edition)

Dr Gunnar Niels, Dr Helen Jenkins, James Kavanagh

From: Oxford Competition Law (http://oxcat.ouplaw.com). (c) Oxford University Press, 2015. All Rights Reserved. Subscriber: null; date: 27 October 2020

  • AAC

    average avoidable cost

  • ABC

    activity-based costing

  • ACM

    Authority for Consumers and Markets (Netherlands)

  • ATC

    average total cost

  • ATR


  • AVC

    average variable cost

  • BA

    British Airways

  • BHB

    British Horseracing Board

  • CAPM

    capital asset pricing model

  • CAT

    Competition Appeal Tribunal (UK)

  • CB

    Cartes Bancaires

  • CBA

    cost–benefit analysis

  • CC

    Competition Commission, now part of the Competition and Markets Authority (UK)

  • CFI

    Court of First Instance, now General Court (EU)

  • CMA

    Competition and Markets Authority (UK)

  • CPU

    central processing unit

  • CRM

    customer relationship management

  • DB

    Deutsche Bahn AG

  • DCF

    discounted cash flow

  • DEA

    data envelopment analysis

  • DOJ

    Department of Justice (USA)

  • EBIT

    earnings before interest and tax

  • ECJ

    European Court of Justice

  • EEA

    European Economic Area

  • ETSI

    European Telecommunications Standards Institute

  • FCA

    Financial Conduct Authority (UK)

  • FCC

    Federal Communications Commission (USA)


    fair, reasonable, and non-discriminatory

  • FTC

    Federal Trade Commission (USA)

  • GSK



    gross upward price pressure index

  • HHI

    Herfindahl–Hirschman Index

  • IO

    industrial organization

  • IP

    intellectual property

  • IRR

    internal rate of return

  • JCRA

    Jersey Competition Regulatory Authority

  • JV

    joint venture

  • KVI

    known-value item


    long-run average incremental cost

  • LRIC

    long-run incremental cost

  • MEA

    modern equivalent asset

  • MFN


  • MIF

    multilateral interchange fee

  • MMC

    Monopolies and Mergers Commission, succeeded by the Competition Commission and the Competition and Markets Authority (UK)

  • (p. xxxvi) NBV

    net book value

  • NMa

    Nederlandse Mededingingsautoriteit, now part of the Authority for Consumers and Markets (Netherlands)

  • NPV

    net present value

  • OEM

    original equipment manufacturer

  • OFT

    Office of Fair Trading, now part of the Competition and Markets Authority (UK)

  • Oftel

    Office of Telecommunications, now part of Ofcom (UK)

  • OLS

    ordinary least squares

  • OPTA

    Onafhankelijke Post en Telecommunicatie Autoriteit, now part of the Authority for Consumers and Markets (Netherlands)

  • OTA

    online travel agent

  • OTT


  • P&Ds

    parity and differential agreements

  • PPI

    payment protection insurance

  • ROCE

    return on capital employed

  • ROE

    return on equity

  • ROS

    return on sales

  • RPM

    resale price maintenance

  • SAA

    South African Airways

  • SEP

    standard-essential patent

  • SIEC

    significant impediment to effective competition

  • SLC

    substantial lessening of competition

  • SME

    small- and medium-sized enterprise

  • SPLC

    substantial prevention or lessening of competition

  • SSO

    standard-setting organization

  • TFEU

    Treaty on the Functioning of the European Union


    Technology Transfer Block Exemption Regulation

  • UPP

    upward price pressure

  • WACC

    weighted average cost of capital