Cartel Damages: Principles, Measurement, and Economics

ISBN : 9780198855163

Cento Veljanovski
496 Pages
171 x 246 mm
Pub date
Feb 2020
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Cartel Damages represents a comprehensive practical guide on the law, economics, and measurement of cartel damages under UK and European competition laws. It draws together the most recent research on cartels, economic analysis, empirical techniques, case law, and legislation to examine how the quantification of losses suffered by those harmed by a cartel are, and could be, applied under European and UK competition laws.

Written with the practitioner in mind, the author adopts a rigorous yet pragmatic approach to the subject. Detailed discussions of leading cases complement the treatment of the application of economic theory and empirical techniques in competition law and litigation. Three useful appendices provide the reader with quick reference guides to statistics on European Cartel Decisions (1999 to 2018), Bank of England 'base rate' (1980-2019), and where to find key documents and information.

This represents an essential tool for competition practitioners and academics involved or interested in cartel damages. Fully cross-referenced and tabled, Cartel Damages is an invaluable and practical guide to issues of increasing importance and relevance in competition law.


1 Introduction

Part I: Cartels in Context

2 What is a Cartel and What Does it Do?

3 Do Cartels Overcharge?

Part II: Economics

4 Establishing a Cartel Exists

5 Economics of Overcharges

Part III: The Legal Framework

6 Elements of a Claim

7 Cartel Infringement

8 Causation and Counterfactual

9 Damages

10 Interest

Part IV: Measurement

11 Overview

12 Getting and Describing Data

13 Comparator Approaches

14 Cost-Based Approaches

15 Statistical Evidence

16 Legal Isues with Statistical Evidence

17 Simulation Models

Part V: Pass-On

18 Overview - Pass-On

19 Economics of Pass-On

20 The Law of Pass-On

21 Proving Pass-On

Part VI: Legal Process

22 Expert Evidence

23 Collective Proceedings

24 Costs, Funding, and Settlement


1 Key and Useful Documents

2 European Cartel Decisions 1999-2018

3 Bank of England 'Base Rate', 1980-2019

About the author: 

Dr Cento Veljanovski is Managing Partner of Case Associates and IEA Fellow in Law & Economics. He has appeared as an expert witness in competition law, commercial and damage litigation before the UK Competition Appeal Tribunal (CAT), English & Wales High Court, Scottish Court of Sessions, Irish High Court, Federal Court of Australia, New Zealand High Court, Den Haag District Court, Finnish Higher Administrative Court, Vilnius County and Regional Administrative courts, and Hong Kong Telecommunications' (Competition Provisions) Appeals Board. These have included the leading competition damage cases of Crehan, Hendry, actions against members of the 'international vitamins' cartel' (Deans/BCL, Devenish, Moy Park, Grampian/Vion) and Merricks v MasterCard. Dr Veljanovski has also held academic positions in law and economics at a number of insitutions, is the former Research Director of the Institute of Economic Affairs.

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