Enforcement and Procedure
- Elgar original reference
Edited by Ioannis Lianos and Damien Geradin
Chapter 1: Econometric evidence in EU competition law: an empirical and theoretical analysis
Competition authorities and litigants worldwide have increased the use of economic quantitative methods and economic expert witnesses as a means to produce and support evidence in merger and antitrust cases. By quantitative techniques we refer to techniques ‘designed to test an economic hypothesis to the exclusion of exploratory data analysis’. The latter refer to descriptive statistics of industry data (retail scanner data, consumer panel data) or descriptive analysis of company data (transaction level data, bidding data, descriptive event analysis) that are often employed in anti trust and merger analysis. However, the issues raised by these industry data for causal inference are much less complex than econometrics or other inferential quantitative techniques, which will form the main object of this study. Innovations in computing power and in econometric techniques have gradually transformed most areas of economics, including industrial organization, which is the area dedicated to understanding and analyzing the workings of markets and industries and the way in which firms compete with each other.
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