Economics for Competition Lawyers【2025|PDF|Epub|mobi|kindle电子书版本百度云盘下载】

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1 INTRODUCTION: STARTING FROM FIRST PRINCIPLES1

1.1 Competition Economics and You1

1.2 What does Economics Contribute to Competition Law?2

1.3 The Books Approach to Explaining Competition Economics6

1.4 Explaining Some Basic Principles the Economic Naturalist's Way8

1.5 Some Health Warnings on Competition, Competition Policy, and Competition Economists17

1.6 The Remainder of this Book21

2 MARKET DEFINITION23

2.1 Why Market Definition?25

2.2 Dimensions of the Relevant Market29

2.3 The Demand Side: Substitution and Elasticities31

2.4 Bringing in the Supply Side: The Hypothetical Monopolist Test37

2.5 Critical Loss Analysis: 'Gould' or 'Would'?56

2.6 The Cellophane Fallacy65

2.7 Supply-Side Substitution and Market Aggregation68

2.8 Price Discrimination Markets74

2.9 Chains of Substitution, and Specific Aspects of Geographic Market Definition77

2.10 Market Definition for Complements and Bundles85

2.11 Markets Along the Vertical Supply Chain91

2.12 Product Substitution Versus Product Migration95

2.13 Market Definition for Features Other than Price98

2.14 Market Definition in Practice: Main Empirical Methods102

2.15 Conclusion: Why Market Definition?112

3 MARKET POWER115

3.1 The Core Concern in Competition Law116

3.2 What is Market Power?118

3.3 Assessing Market Power Through Market Shares and Concentration123

3.4 Entry and Exit Barriers132

3.5 Collective Dominance, Tacit Collusion, and Effective Competition142

3.6 Profitability as a Measure of Market Power150

3.7 Buyer Power and Bidding Markets166

3.8 Market Power, Investment, and Innovation171

4 ABUSE OF DOMINANCE177

4.1 Successful Competitor or Dangerous Monopolist?179

4.2 General Principles for Assessing Exclusionary Conduct182

4.3 Cost Benchmarks for Exclusionary Conduct189

4.4 Predation198

4.5 Price Discrimination215

4.6 Loyalty Rebates, Discounts, and Exclusive Dealing223

4.7 Margin Squeeze239

4.8 Bundling and Tying249

4.9 Refusal to Supply and Essential Facilities261

4.10 Excessive Pricing268

5 CARTELS AND OTHER HORIZONTAL AGREEMENTS283

5.1 Are All Cartels Bad?283

5.2 Economic Characteristics of Hardcore Cartels287

5.3 Non-Hardcore Horizontal Agreements: Counterfactual Analysis293

5.4 Finding Cartels: Can Economics Help?302

6 VERTICAL RESTRAINTS309

6.1 Business Practices, the Law, and the Economics309

6.2 Economic Rationales for Vertical Restraints312

6.3 Anti-Competitive Effects of Vertical Restraints322

6.4 Conclusion: Questions for Competition Law331

7 MERGERS333

7.1 What Can Economics Add to Merger Control?334

7.2 What is the Test for Judging a Merger to be Anti-Competitive?335

7.3 The Counterfactual338

7.4 Unilateral Effects in Horizontal Mergers345

7.5 Non-Horizontal Mergers363

7.6 Merger Efficiencies371

8 STATE AID379

8.1 State Aid in a Wider Context380

8.2 The Basic Economic Principles of State Aid384

8.3 Where Does Economics Fit in to a State Aid Case?386

8.4 Is there State Aid? If So, How Much? The Market Economy Investor Principle388

8.5 Is there a Distortion of Competition or Trade?402

8.6 Services of General Economic Interest: The Altmark Criteria409

8.7 Services of General Economic Interest: Measuring Appropriate Compensation418

8.8 Does the State Aid Measure Address a Market Failure?425

8.9 Aid for the Rescue and Restructuring of Companies in Difficulty428

8.10 The Balancing Test433

8.11 Remedies to Minimize the Distortion of Competition437

8.12 Conclusion: Comments on State Aid Enforcement441

9 DESIGN OF REMEDIES443

9.1 After the Diagnosis, What Next?443

9.2 Structural Remedies445

9.3 Behavioural Remedies; Price and Access Regulation453

9.4 Behavioural Remedies: New Insights from Behavioural Economics464

9.5 Fines474

9.6 Measuring the Costs and Benefits of Remedies, and of Competition Law480

10 QUANTIFICATION OF DAMAGES491

10.1 Damages Claims, Economics, and the Law493

10.2 Main Stages in the Damages Estimation499

10.3 Harm From Hardcore Cartel Agreements: Conceptual Framework500

10.4 Harm From Exclusionary Conduct: Conceptual Framework508

10.5 A Classification of Methods and Models for the Quantification of Damages514

10.6 Comparator-Based Approaches: Cross-Sectional524

10.7 Comparator-Based Approaches: Time Series529

10.8 Comparator-Based Approaches: Difference-in-Differences534

10.9 Approaches Based on Financial Analysis536

10.10 Approaches Based on Market Structure and Industrial Organization Theory546

10.11 Insight into the Pass-on of Overcharges553

10.12 From the Counterfactual Stage to a Final Damages Value: Interest and Discounting561

11 THE USE OF ECONOMIC EVIDENCE IN COMPETITION CASES567

11.1 Smokescreens and Mud-Slingers?567

11.2 Best Practice in Presenting Economic Evidence568

11.3 When Can Courts Rely on Economic Experts?570

11.4 The Use of Economics: A Promising Future?580

Bibliography587

Index597