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Econometric tests for analyzing common impact

In: The Law and Economics of Class Actions

Author

Listed:
  • Kevin W. Caves
  • Hal J. Singer

Abstract

In antitrust class-action litigation, courts are increasingly unlikely to accept the presumption that all class members were harmed by price-fixing among a group of firms or by exclusionary behavior by a single firm. Econometric methods typically applied in antitrust and other settings estimate the average effect of the challenged conduct, but do not inform impact for individual class members. We present classwide econometric methods and statistical tests for detecting the existence (or lack thereof) of common impact and determining what proportion (if any) of the proposed class suffered injury in many class actions. We conclude that econometric tools can meaningfully inform the legal process, even when courts demand proof of common impact.

Suggested Citation

  • Kevin W. Caves & Hal J. Singer, 2014. "Econometric tests for analyzing common impact," Research in Law and Economics, in: The Law and Economics of Class Actions, volume 26, pages 135-160, Emerald Group Publishing Limited.
    • Handle: RePEc:eme:rlwezz:s0193-589520140000026005
    DOI: 10.1108/S0193-589520140000026005
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    More about this item

    Keywords

    Common impact; econometric modeling; common proof paradox; class actions; class certification; C52; K21; C19;
    All these keywords.

    JEL classification:

    • C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection
    • K21 - Law and Economics - - Regulation and Business Law - - - Antitrust Law
    • C19 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Other

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