Estimating overcharges in antitrust cases using a reduced-form approach: Methods and issues
This paper presents several methods and discusses salient issues pertaining to the use of reduced-form models to estimate overcharges in antitrust matters (e.g., price-fixing) where “but-for” prices may be less than actual prices during the anticompetitive period. In particular, two common types of reduced-form estimations are discussed: the “dummyvariable approach” and the “forecasting approach”. Under either methodology, an error correction model is then specified as one way to address technical problems often found in applied time-series analysis – nonstationary data and the existence of short-term and longterm dynamics.
Volume (Year): IX (2006)
Issue (Month): (November)
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- Baker, Jonathan B & Rubinfeld, Daniel L, 1999. "Empirical Methods in Antitrust Litigation: Review and Critique," American Law and Economics Review, Oxford University Press, vol. 1(1-2), pages 386-435, Fall.
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04-15, Purdue University, College of Agriculture, Department of Agricultural Economics.
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"Using Stationarity Tests in Antitrust Market Definition,"
CEPR Discussion Papers
3236, C.E.P.R. Discussion Papers.
- Mario Forni, 2004. "Using Stationarity Tests in Antitrust Market Definition," American Law and Economics Review, Oxford University Press, vol. 6(2), pages 441-464.
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