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Methods for calculating cartel damages: A survey

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  • Doose, Anna Maria
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    Abstract

    The paper focuses on the various methods used to quantify cartel damages, which have become more and more important as private damage suits in the aftermath of antitrust litigation increase. The approaches implementation is embedded into current legal environments with regards to the estimation approaches being used for quantification of cartel damages. The direct comparison of methods shows that difference methods convince due to their simplicity and plausibility in results as well as replicability. Cost-based approaches have to overcome hurdles but still are easy to conduct and comparatively more accurate. In contrast, price prediction takes market changes into account and the market simulation presents the most sophisticated and flexible approach, provided that assumptions are correct and correctly implemented, and therefore approaches the real world counterfactual as approximate as possible. --

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    Bibliographic Info

    Paper provided by Ilmenau University of Technology, Institute of Economics in its series Ilmenau Economics Discussion Papers with number 83.

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    Date of creation: 2013
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    Handle: RePEc:zbw:tuiedp:83

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    Related research

    Keywords: cartels; damages; antitrust policy; public enforcement; private enforcement;

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    1. Hüschelrath, Kai & Müller, Kathrin & Veith, Tobias, 2012. "Concrete shoes for competition: The effect of the German cement cartel on market price," ZEW Discussion Papers, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research 12-035, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
    2. James F. Nieberding, 2006. "Estimating overcharges in antitrust cases using a reduced-form approach: Methods and issues," Journal of Applied Economics, Universidad del CEMA, vol. 0, pages 361-380, November.
    3. John Connor, 2001. "“Our Customers Are Our Enemies”: The Lysine Cartel of 1992–1995," Review of Industrial Organization, Springer, Springer, vol. 18(1), pages 5-21, February.
    4. Hans W. Friederiszick & Frank P. Maier-Rigaud, 2007. "The Role of Economics in Cartel Detection in Europe," Conferences on New Political Economy, Mohr Siebeck, Tübingen, in: Max Albert & Stefan Voigt & Dieter Schmidtchen (ed.), Conferences on New Political Economy, edition 1, volume 24, pages 179-196(1 Mohr Siebeck, Tübingen.
    5. Connor, John M. & Bolotova, Yuliya, 2006. "Cartel overcharges: Survey and meta-analysis," International Journal of Industrial Organization, Elsevier, Elsevier, vol. 24(6), pages 1109-1137, November.
    6. Hüschelrath, Kai & Veith, Tobias, 2011. "The impact of cartelization on pricing dynamics: Evidence from the German cement industry," ZEW Discussion Papers, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research 11-067, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
    7. Roy J. Epstein & Daniel L. Rubinfeld, 2002. "Merger Simulation: A Simplified Approach with New Applications," Industrial Organization, EconWPA 0201002, EconWPA.
    8. Epstein, Roy J. & Rubinfeld, Daniel L., 2001. "Merger Simulation: A Simplified Approach with New Applications," Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley qt9jt389nb, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    9. Hans W. Friederiszick & Lars-Hendrik Röller, 2010. "Quantification of harm in damages actions for antitrust infringements: Insights from German cartel cases," ESMT Research Working Papers ESMT-10-001, ESMT European School of Management and Technology.
    10. Boone, J. & Müller, W., 2008. "The Distribution of Harm in Price-Fixing Cases," Discussion Paper, Tilburg University, Center for Economic Research 2008-68, Tilburg University, Center for Economic Research.
    11. Hüschelrath, Kai & Weigand, Jürgen, 2010. "Fighting hard core cartels," ZEW Discussion Papers, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research 10-084, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
    12. FRANK VERBOVEN & THEON van DIJK, 2009. "CARTEL DAMAGES CLAIMS AND THE PASSING-ON DEFENSE -super-* ," Journal of Industrial Economics, Wiley Blackwell, Wiley Blackwell, vol. 57(3), pages 457-491, 09.
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