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Cartel Damages represents a comprehensive practical guide on the law, economics, and measurement of cartel damages under UK and European competition laws. It draws together the most recent research on cartels, economic analysis, empirical techniques, case law, and legislation to examine how the quantification of losses suffered by those harmed by a cartel are, and could be, applied under European and UK competition laws. Written with the practitioner in mind, the author adopts a rigorous yet pragmatic approach to the subject. Detailed discussions of leading cases complement the treatment of the application of economic theory and empirical techniques in competition law and litigation. Three useful appendices provide the reader with quick reference guides to statistics on European Cartel Decisions (1999 to 2018), Bank of England 'base rate' (1980-2019), and where to find key documents and information. This represents an essential tool for competition practitioners and academics involved or interested in cartel damages. Fully cross-referenced and tabled, Cartel Damages is an invaluable and practical guide to issues of increasing importance and relevance in competition law.
List of contents
- 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
About the author
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.
Summary
Cartel Damages represents a comprehensive practical guide on the law, economics, and measurement of cartel damages under UK and European competition laws. Detailed discussions of leading cases complement the treatment of the application of economic theory and empirical techniques in competition law and litigation.
Additional text
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 jurisdictions.
