Editing Predatory pricing (section)

===European Union===
[[Article 102 of the Treaty on the Functioning of the European Union]] is the relevant statutory provision under EU law for dealing with predatory pricing. According to Article 102:<blockquote>''"Any abuse by one or more undertakings of a dominant position within the internal market or in a substantial part of it shall be prohibited as incompatible with the internal market in so far as it may affect trade between Member States."'' <ref>{{Cite web|title=Consolidated Version of the Treaty on European Union and the Treaty on the Functioning of the European Union [2008] OJ C115/01, Article 102|url=https://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=CELEX:12008E102:EN:HTML|date=May 9, 2008|access-date=April 22, 2020|archive-date=May 2, 2020|archive-url=https://web.archive.org/web/20200502151753/https://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=CELEX:12008E102:EN:HTML|url-status=live}}</ref> </blockquote>If Article 102 is breached by a predatory pricing practice, the European Commission may intervene as they prioritize dealing with "exclusionary abuses" which exclude competitors from the market.<ref>{{Cite web|title=Guidance on the Commission's Enforcement Priorities in Applying Article 82 of the EC Treaty to Abusive Exclusionary Conduct by Dominant Undertakings|url=https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:52009XC0224(01)&from=EN|date=February 24, 2009|publisher=European Commission|at=Paragraph 7|access-date=April 22, 2020|archive-date=March 19, 2020|archive-url=https://web.archive.org/web/20200319184730/https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:52009XC0224(01)&from=EN|url-status=live}}</ref>  According to the 'Guidance in Applying Article 102''<nowiki/>''', the Commission normally intervene in possible predatory pricing cases if a dominant firm aims to maintain or strengthen its market power by "sacrificing" short-term losses to foreclose "as efficient" competitors,<ref>{{Cite web|title=Guidance on the Commission's Enforcement Priorities in Applying Article 82 of the EC Treaty to Abusive Exclusionary Conduct by Dominant Undertakings|url=https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:52009XC0224(01)&from=EN|date=February 24, 2009|publisher=European Commission|at=Paragraph 23|access-date=April 22, 2020|archive-date=March 19, 2020|archive-url=https://web.archive.org/web/20200319184730/https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:52009XC0224(01)&from=EN|url-status=live}}</ref> or even "less efficient" competitors.<ref>{{Cite web|title=Guidance on the Commission's Enforcement Priorities in Applying Article 82 of the EC Treaty to Abusive Exclusionary Conduct by Dominant Undertakings|url=https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:52009XC0224(01)&from=EN|date=February 24, 2009|publisher=European Commission|at=Paragraph 24|access-date=April 22, 2020|archive-date=March 19, 2020|archive-url=https://web.archive.org/web/20200319184730/https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:52009XC0224(01)&from=EN|url-status=live}}</ref> The "as efficient competitor" refers to a hypothetical competitor with the same costs as the dominant firm.<ref>{{Cite book|last1=Jones|first1=Alison|title=Jones & Sufrin's EU Competition Law: Text, Cases, and Materials|last2=Sufrin|first2=Brenda|last3=Dunne|first3=Niamh|publisher=Oxford University Press|year=2019|isbn=9780198824657|pages=374}}</ref> The "as efficient competitor" test was endorsed in ''AKZO'' as the legal standard for assessing predatory pricing under Article 102.<ref name="eur-lex.europa.eu"/>