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available open access at: https://www.tandfonline.com/doi/full/10.1080/17441056.2020.1824722Thinking in terms of supply chains, a crux with a view to antitrust damages is the fact that calculations (of market participants and hence also within legal proceedings) do not stop at the bilateral...
Persistent link: https://www.econbiz.de/10013212303
Competition Law is mainly concerned with promoting consumer welfare. Competition Law aims at encouraging competition by prohibiting anti-competitive trade practices. The Competition and Fair-Trading Act prohibits certain horizontal practices i.e., certain arrangements or agreements between firms...
Persistent link: https://www.econbiz.de/10013245432
The notion of collusion is commonly understood as serving a jurisdictional function, determining the scope of Article 101(1) TFEU widely and not prejudging the substantive analysis of a restriction of competition. Hence, it would only be limited by the definition of agreements, decision by an...
Persistent link: https://www.econbiz.de/10013246158
The present assessment focuses on the antitrust action in detecting and fighting oligopolistic collusion, analyzing the development of the innovative and modern leniency policy. Following the examination of the main conditions and reasons for cartel stability and sustainability, our attempt is...
Persistent link: https://www.econbiz.de/10012716596
We use a dataset of 615 firms which participated in 114 illegal cartels - convicted by the European Commission between 1999 and 2016 - to investigate the determinants of the duration of a firm's participation in a cartel. Applying a Weibull proportional hazard model with a particular focus on...
Persistent link: https://www.econbiz.de/10011580827
The fixing of the Libor and Euribor benchmark rates has proven vulnerable to manipulation. Individual rate-setters may have incentives to fraudulently distort their submissions. For the contributing banks to collectively agree on the direction in which to rig the rate, however, their interests...
Persistent link: https://www.econbiz.de/10011791538
The fixing of the Libor and Euribor benchmark rates has proven vulnerable to manipulation. Individual rate-setters may have incentives to fraudulently distort their submissions. For the contributing banks to collectively agree on the direction in which to rig the rate, however, their interests...
Persistent link: https://www.econbiz.de/10011780773
Cartels have a significantly negative impact on economic welfare. Anti-cartel competition law — such as the provisions of pt IV div 1 of the Competition and Consumer Act 2010 (Cth) — tries to tackle this negative impact through civil and criminal remedies. The prohibition of cartels is most...
Persistent link: https://www.econbiz.de/10012946354
After arguing that collusion by software programs which choose pricing rules without any human intervention is not in violation of section 1 of the Sherman Act, the paper offers a path towards making collusion by autonomous agents unlawful
Persistent link: https://www.econbiz.de/10012947737
European Union (EU) from 2001 to 2015. In a first step, we present a detailed characterization of all cartel cases decided by …
Persistent link: https://www.econbiz.de/10012981750