This paper is in two parts. The first part is a report written in 1989 for the UK Department for Transport (DTp) to consider the way non fatal accidents should be treated in project evaluations. At the time, the DTp had adopted an economic approach to the costing of fatalities based on the...

This paper sets out the basic economics of cartel formation and stability, the methods of estimating overcharges and quot;but forquot; prices, and concludes with a brief discussion of multiple damages. It draws on some evidence of cartel prosecution in Europe

This paper questions whether markets need contain products that are direct substitutes for consumers. It shows that there are many instances where markets consist of products that are not direct substitutes, and those which consumers cannot directly use or are at different functional levels in...

This paper sets out the basic economics of network effects and two-sided or multi-sided markets as relevant to antitrust and regulation. Network effects, and the related concept of two- (or multi-) sided markets, are playing an increasing role in antitrust/competition law in the communications...

This chapter sets out the principles and emerging practice governing cartel damages in the EU and UK. It identifies the types of damages available; the issue surrounding causation, pass-on, volume effects, and mitigation; and the methods that have been be used to estimate overcharges, volume...

This paper undertakes a critical review of the prospect that self-learning pricing algorithms will lead to widespread collusion independently of the intervention and participation of humans. There is no concrete evidence, no example yet, and no antitrust case that self-learning pricing...