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Law and Economics in European Merger Control by Ulrich Schwalbe,Daniel Zimmer Pdf
Co-written by an expert lawyer and economist, this book provides a thorough guide to the economic theory behind the regulation of mergers. The economic theory is then used to analyse the current state of European competition law, and test the success of the European Commission's search for a 'more economic approach' to merger regulation.
Economic issues play a pivotal role in competition enforcement. Integrating economic and legal analysis throughout, this work provides expert coverage of both the substantive and procedural law relating to merger control in the EU, considering EU and national case law. The key substantive and procedural issues in the US are also considered.
Merger Control in the European Union by Edurne Navarro Varona Pdf
This second edition provides an exhaustive analysis of the European Community rules relating to merger control, including the new EC Merger Regulation 139/2004 of 20 January 2004 which entered into force on 1 May 2004 and the latest interpretive notices adopted by the European Commission. The book draws upon the authors' detailed and practical knowledge of the subject as officials at DG Competition and practitioners specialising in this field, and will be updated through a companion website.
European Merger Control by Catalin Stefan Rusu Pdf
Twenty years of experience have inevitably brought to light challenges and tensions in the enforcement of the European merger control system. Some of these challenges have been faced, some have been solved and some remain latent. This very valuable study starts from the proposition that the EU has never fully acknowledged those fundamental challenges which relate to the rationale behind merger control in Europe. The author shows how the Commission's focus on adapting the rules of merger control to the economic realities of the future business environment, although designed with a view to facilitating European integration, has compromised attainment of legal certainty, transparency and welfare enhancement. In its detailed evaluation of the 'future market structure prediction process' embedded in European merger control policy, this book approaches two rock-bottom, far-reaching questions: In what ways does merger control promote consumer and societal welfare? Is the Commission able to correctly predict the outcome of any given concentration transaction? These considerations take the reader through a deep and searching analysis that calls into question the very credibility and transparency of the system, leading to alternatives which promise a new clarity of purpose and procedure. The author describes how these recommendations can be integrated into the functioning framework of the European project. Taken fully into account along the way is a wide spectrum of relevant source material, including the following: applicable articles and chapters of the founding and subsequent European Treaties; secondary European legislation concerning competition and merger activity; domestic competition laws; guidelines, notices and action plans; competition law reviews, statements of intentions; draft legislative attempts; speeches on the enactment and purpose of merger control; Member States' views concerning European merger control as expressed during Council negotiations; officially available concentration-related statistics; and a wide-ranging literature review covering both the legal and economic sides of merger control. Throughout, the author substantiates theoretical assertions with case law examples, clearly exposing doctrines arising from such cases as Continental Can, Phillip Morris/Rothmans and the Airtours, Schneider and Tetra Laval trilogy. A unique feature of the analysis draws on the author's personal experience while working for a Brussels competition law firm. This book is a remarkable compound of academic guide to the roots and rationales of the European Merger Control System, practical guide to the day-to-day intricacies of merger control enforcement, and 'raw' guide for decision makers and merger control law enforcers. It will be of immense value in all three contexts.
EU Merger Control by Ioannis Kokkoris,Howard Shelanski Pdf
Economic issues play a pivotal role in competition enforcement. Integrating economic and legal analysis throughout, this work provides expert coverage of both the substantive and procedural law relating to merger control in the EU, considering EU and national case law. The key substantive and procedural issues in the US are also considered.
Author : Roger J. Van den Bergh Publisher : Edward Elgar Publishing Page : 576 pages File Size : 49,7 Mb Release : 2017-09-29 Category : Antitrust law ISBN : 9781786438317
Comparative Competition Law and Economics by Roger J. Van den Bergh Pdf
Offering a concise and critical comparison of EU competition law and US antitrust law from an economic perspective, this is the ideal textbook for international and interdisciplinary courses combining law and economic approaches.
Economics and the Enforcement of European Competition Law by Christopher Decker Pdf
The book is well written and readable by non economists. The approaches, questions, methodology, and basis for selection of cases/interviewees are clearly explained and justified. This book is a valuable contribution to the literature. Rhonda Smith, Competition and Consumer Law Journal Recent years have seen a trend toward an economics-based approach to the enforcement of European competition law. But what is meant by economics-based , and how does this approach sit with legal and enforcement practice? This book seeks to place in perspective the growing use of economics in European competition law enforcement by examining precisely how economics contributes to the enforcement activity of the European Commission and Courts. Christopher Decker provides unique empirical insights as to how economic theory, thinking, techniques and data have featured in decision-making in the area of co-ordinated effects. The role of economics is examined throughout the entire enforcement process, from the decision to initiate an investigation to the design and implementation of remedies, and its conclusions are of general relevance to all areas of competition law enforcement where economics is used. Utilising a broad and multifaceted conception of economics, this book is essential reading for academics and students interested in European competition law, EC competition lawyers, applied industrial economists and enforcement officials. It will also be an invaluable tool for academic libraries and institutes, government agencies, law firms and economic consultancies.
European Merger Control by Michael Rosenthal,Stefan Thomas Pdf
European merger control is among the most important and complex aspects of competition law. The rapid pace of development in this area presents a further challenge: legislation and guidance documents are frequently issued and updated, and the formidable body of Court and Commission case-law continues to grow at a daunting rate. This book provides a comprehensive treatment of EC merger control law and procedure. It adopts an integrated approach that embraces both the law and economics of merger control, supplemented throughout with practical insights drawn from the authors' own experience. The book blends practical and academic perspectives and addresses new and unsolved questions of EC merger control law. Highlights: Specific and detailed treatment of EC merger control Comprehensive and up-to-date overview of recent case-law and Commission guidance Detailed analysis of economic issues posed by the ECMR (e.g., market definition and SIEC test)
European Merger Control by Ovidiu Ioan Dumitru Pdf
Modern European Merger Control Policy is the result of a compelling evolution as, throughout the course of time, the underlying objectives guiding its enforcement have been influenced by different school of thoughts, decisions of the bodies supervising the competition, Commission at EU level and national authorities at the state level, and, of course, the economic evolution of the continent. As a consequence, the European institutions together with the Member States had to amend the initial provisions from the Treaty and, later, from the specific Regulation. This book aims at studying the evolution of the European Merger Control rules, from the founding treaties till the last European act providing it, in parallel, analysing the caselaw in the field and its influence in the reformation process. The final Reform of the European Merger Control was implemented in 2004, as a consequence of globalization and rapid developments of the markets, including the digital economy, as some amendments were essential for a competitive and innovative European single market, leaving us with a amended procedure which is presented in the present book.
Making European Merger Policy More Predictable by Stefan Voigt,André Schmidt Pdf
Making European Merger Policy More Predictable analyses European Merger Control with regard to its capacity to generate predictability among the concerned parties. Starting from the premise that predictability is of overwhelming importance for the functioning of market economies, Voigt and Schmidt ask to what degree European Merger Control has been predictable over the last couple of years. The authors show both theoretically and empirically that there have been serious shortcomings with regard to the predictability of competition policy. They identify the insufficient recognition of the consequences of globalization on the competitive processes as well as an often inconsistent application of economic theory as the root causes for the lack of predictability. The inconsistent application of economic theory is particularly relevant with regard to potential competition and the evaluation of collective dominance. The authors generate a substantial number of proposals that could help to improve predictability. On this basis, Voigt and Schmidt critically assess the recent reforms of European Merger Control.
Mergers and Merger Remedies in the EU by Stephen Davies,Bruce Lyons Pdf
. . . for practitioners considering whether to use economists to evaluate merger proposals, this book provides a relevant insight into the types of information that would be necessary to develop even a basic simulation model, and some guidance as to circumstances where such technique may be appropriate. Vanessa Holliday, Competition and Consumer Law Journal . . . highly recommended for practitioners as well as academics interested in merger remedies. Arndt Christiansen, European Competition Law Review Headlines are made when the European Commission prohibits a merger, but this is actually very rare. Clearances subject to conditions (i.e. remedies) happen ten times as frequently, but have received far less attention in academic literature. This book provides an empirical assessment of the effectiveness of merger remedies, employing a novel simulation methodology based on formal economic theory. The authors were given unprecedented access to data available to case handlers, concerning a range of remedied mergers covering 21 markets. Using this they have adapted simple simulation techniques to appraise the competitive effects of these mergers and the impact of potential and actual remedies. Ex-ante results are then compared with ex-post impact to examine the actual effectiveness of remedies. The results provide a critique of both simple market share analysis and remedy design. This research thus contributes to economics research and practical merger policy. This rare empirical assessment of the efficacy of remedies in competition policy will be of great significance and interest to policy makers, as well as to economists, lawyers, practitioners and students in competition law.
The first decade of merger control under European competition law offers an enticing stimulus for all kinds of evaluations on the Merger Regulation's running time, in particular into the economic feasibility of its rules and their application. An economic analysis of the Regulation allows for a positive assessment of the envisioned effects, while also enabling normative statements on how to improve the rules' workability given a number of goals to be achieved. This study was inspired by one of the Merger Regulation's more controversial issues, as surrounding the taking into account of efficiencies resulting from a merger under scrutiny. Currently hardly featured in the evaluation process, it will be shown that efficiencies carry the potential to move to the centre of stage in those competitively "close" cases, pending prohibition because of the underlying amalgamation's latent anticompetitive effects, but at the same time characterised by a strong synergistic content. Roberto Pardolesi (Luiss Guido Carli, Rome): "The major strength of the work is the original development of fresh insights in discussing existing literatures, as well as in applying sophisticated economic arguments to the analysis of European discipline of Merger Control ... The comparison with the US legal and economic approach to merger regulation is pervasive and efficaciously performed."
European Merger Control by F. Ilzkovitz,Roderick Meiklejohn Pdf
During its first 15 years, the EU's merger control system offered only minimal possibilities for taking efficiency gains into account as a mitigating factor that might offset the anti-competitive effects of a merger. The policy changed in May 2004 and this book examines the background to that change.
