In this paper we set out the welfare economics based case for imposing cartel penalties on the cartel overcharge rather than on the more conventional bases of revenue or profits (illegal gains). To do this we undertake a systematic comparison of a penalty based on the cartel overcharge with...

Numerous texts and decisions produced by the European authorities allude to the necessity to integrate competitive and environmental policies. Over the years, this integration has become an imperative for the authorities of the European Union. If the aim of European institutions is both to build...

This paper explores the origin and development of the consumer choice paradigm as the core concept of German ordoliberal thought which has had a strong impact on EU competition policy and law. Outside Germany, ordoliberal thought is often identified exclusively with the learning of the original...

This paper attempts, on the one hand, to reveal the main principles of Competition Law (regulatory and case law framework) covering the prevention of parallel trade, mainly the prohibition of parallel imports, and on the other hand to cast light on the main effects of parallel imports...

Tacit collusion reduces welfare comparably to explicit collusion but remains mostly unaddressed by antitrust enforcement which greatly depends on evidence of explicit communication. We propose to target specific elements of firms’ behavior that facilitate tacit collusion by providing...

В статье предлагается подход к определению оптимальной величины штрафа за нарушение антимонопольного законодательства, основанный на анализе стимулов...

Con il provvedimento del 24 febbraio 2014 l'Agcm ha sanzionato ai sensi dell'art. 101 tfue la concertazione orizzontale posta in essere dai gruppi industriali Roche e Novartis finalizzata ad impedire che le applicazioni, per uso oftalmico, "off label" del farmaco Avastin, concesso in licenza da...

The system changes of the Polish economy, which began in the 80s of the 20th century and were continued after the accession to the European Union in 2004, have caused significant transformations, not only in the economy and ownership relations, but also in single markets. What is more, some of...

Japan showed strong economic recovery from the crisis. Executive Directors welcomed the development and stressed the need for a strong monetary framework, well-designed fiscal consolidation, and structural reforms. Directors agreed that the Bank of Japan’s monetary framework is well...

We study antitrust enforcement that channels price-fixing incentives through setting fines and allocating resources to detection activities. Antitrust fines obey four legal principles: punishments should fit the crime, proportionality, bankruptcy considerations, and minimum fines. Bankruptcy...