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Principles, Measurement, and Economics
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Dr Gunnar Niels, Partner, OXERA An impressive and comprehensive piece of work a worthy addition to the Oxford University Press competition textbook stable
Aidan Robertson QC, Brick Court Chambers; Visiting Professor, University of Oxford Cartel Damages: Principles, Measurement and Economics is an excellent and comprehensive guide to the quantification of cartel damages claims under EU and UK law. It is written by a leading economist who has considerable experience of giving expert evidence in competition cases as well as of teaching law and economics.His detailed treatment of this subject successfully encompasses both disciplines with great clarity. It is destined to become a standard guide
to this subject and will undoubtedly be extensively used by legal practitioners, economists and judges. It is unreservedly recommended.
Professor John M. Connors, Purdue University and American Antitrust Institute Cartel Damages is a magisterial synthesis of the economics of cartel overcharges and antitrust litigation in the UK and European courts. Dr. Veljanovski has provided a thoughtful and up-to-date review of the challenges and intricacies facing experts who engage in antitrust damages actions in Europe.
Professor Andreas Stephan, University of East Anglia This book is the first comprehensive, practical textbook on cartel damages in the EU and the UK. It covers the key legal principles and provides an essential guide to the economic methodologies employed to calculate damages in cartel cases. ... It is also very effective at grounding its content in practical examples and the latest case law. I would highly recommend this book to a wide range of readers, including lawyers, in-house counsel and economics consultants
working in this area, judges who are likely decide on such cases, and academics researching the private enforcement of competition law. Although the book focuses on the EU and the UK, the key issues and methodologies for calculating damages will be highly relevant to readers across many other
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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.
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 Appendices 1: Key and Useful Documents 2: European Cartel Decisions 1999-2018 3: Bank of England 'Base Rate', 1980-2019