Handbook on European Competition Law
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Handbook on European Competition Law

Enforcement and Procedure

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Edited by Ioannis Lianos and Damien Geradin

Handbook on European Competition Law: Enforcement and Procedure sets out in detail the procedural aspects of EU competition law, ranging from fines, remedies and judicial review. It also gives unique insight into both private and public enforcement of completion law, and offers commentary on the relationship between EU competition law and national competition law, and on the relationship between competition law and private international law.
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Chapter 1: Econometric evidence in EU competition law: an empirical and theoretical analysis

Ioannis Lianos and Christos Genakos

Extract

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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