EU Competition Law and Economics

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Press: Oxford University Press; 1 edition (May 16, 2012)
Publication Date:2012-5
Author Name:Geradin, Damien; Padilla, Jorge; Petit, Nicholas
Edition:1st Edition


This is the first EU competition law treatise that fully integrates economic reasoning in its treatment of the decisional practice of the European Commission and the case-law of the European Court of Justice. 
Since the European Commission's move to a "more economic approach" to competition law reasoning and decisional practice, the use of economic argument in competition law cases has become a stricter requirement.
Many national competition authorities are also increasingly moving away from a legalistic analysis of a firm's conduct to an effect-based analysis of such conduct, indeed most competition cases today involve teams composed of lawyers and industrial organisation economists.
Competition law books tend to have either only cursory coverage of economics, have separate sections on economics, or indeed are far too technical in the level of economic understanding they assume.
Ensuring a genuinely integrated approach to legal and economic analysis, this major new work is written by a team combining the widely recognised expertise of two competition law practitioners and a prominent economic consultant.
The book contains economic reasoning throughout in accessible form, and, more pertinently for practitioners, examines economics in the light of how it is used and put to effect in the courts and decision-making institutions of the EU.
A general introductory section sets EU competition law in its historical context.
The second chapter goes on to explore the economics foundations of EU Competition law.
What follows then is an integrated treatment of each of the core substantive areas of EU competition law, including Article 101 TFEU, Article 102 TFEU, mergers, cartels and other horizontal agreements, vertical restraints and technology transfer agreements.

About the Author

Damien Geradin is a Partner at Covington & Burling LLP and Professor of Competition Law and Economics at Tilburg University (The Netherlands) and a member of TILEC. 
His areas of research include competition law, network industries (telecommunications, postal services, energy and transport), and the interface between IP and competition law.
Anne Layne-Farrar is Director at LECG and specializes in antitrust and intellectual property matters, especially where the two issues are combined.
She advises on competition, intellectual property, regulation, and policy issues across a broad range of industries, with a particular focus on high-tech.
Nicolas Petit is Professor of Competition Law and Economics at the University of Liege.
In May 2007, he completed a PhD on oligopolies and tacit collusion under EC competition law.
In addition to this, he has written a number of articles on Article 82 EC, the introduction of competition rules within international agreements as well as on the relationships between competition rules and sector specific regulation.


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Comment List (Total:1)

  •     FOR COMPETITION LAWYERS WITH CORPORATE CLIENTS, (NOT TO MENTION ECONOMISTS AND NON-SPECIALIST PRACTITIONERS)An appreciation by Phillip Taylor MBE and Elizabeth Taylor of Richmond Green ChambersThere are a number of areas in which law and economics are inextricably linked; competition law being one of them.Additionally, as perceived by the general public, competition law has one of the highest profiles of any area of law, if only because, by its very nature, it almost inevitably involves large well known companies. The expert authors of this timely publication from the Oxford University Press cite a number of examples from both sides of the Atlantic: among them Sotheby's, the famous Roche `vitamins' case and Microsoft to name just three.Cited by the publishers as the first EU competition law treatise that offers a genuinely integrated approach to both legal and economic issues, this major new work brings together in one volume the quite vast range of issues and subject areas likely to be encountered by competition lawyers and economists alike.The book commences with an examination of the history of competition law. Competition and monopolization originate in antiquity -- the astronomer Thales apparently had a lot to answer for over his olive oil monopoly -- but the first bodies of competition law which can be termed `modern' date back only to the end of the nineteenth century when the first piece of competition legislation appeared in North America, first in Canada in 1889 and in the US a year later.These two nations rules, say the authors, `had a significant influence on the design and content of the EU completion rules.' Well, that applies an interesting perspective to EU competition law, which has its particular roots in the legislative framework emanating from the original Iron and Steel community.This scholarly and skillfully organized book contains any amount of similarly insightful observation - especially on specific cases -- which offer their own peculiar fascination. Here's just one quote, for example, that may occasion considerable debate:`Many consider that (especially following Microsoft v. Commission and Wanadoo v. Commission) those cases demonstrate the EU Courts' discomfort in matters involving sophisticated economic analysis. To increase the effectiveness of judicial review, as well as to reduce the average duration of proceedings before the EU Courts (currently it takes 20 to 30 months for the GC to rule on a competition case), a number of observers have recently argued in favour of establishing a specialist competition court at the EU level, similar to the Competition Appeals Tribunal in the UK.'This of course is yet another instance of the thought provoking commentary provided by the expert authors: two of whom are competition law practitioners and academics, the other a well known economic consultant.Certainly the book provides an in-depth examination (from both an historical perspective as well as the contemporary standpoint) of each of the core areas of EU competition law, including horizontal agreements... vertical restraints... merger litigation and control and certainly, cartels - these being originally considered acceptable for continental Europe, but now anathema.For those professionally or personally involved in the issues raised in the arena of competition law, this volume, distinguished by its clarity of explanation and expression, is an enlightening read. Ample tools for further inquiry are provided, including extensive tables of cases, legislation and Commission decisions.This book does emerge as an authoritative work of abiding interest to specialist legal practitioners, as well as economists and everyone involved professionally with EU competition law. The publication date is 2012.

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