Casenote: Gas Joint Ventures and Competition
Our June Casenote Gas Joint Ventures an Competition looks at the issues raised in the court battle between Todd an its joint venture partners (Shell and OMV) in New Zealand's largest gas field.  The dispute heard by the New Zealand High Court earlier this year raised complex issues surrounding market definition, the autonomy of joint ventures and their relationship with competition law, and gas balancing arrangements where there is separate marketing of gas.

Economists in Court - Comparative Assessment of England and Australia
Cento Veljanovski gave a keynote paper on the role and reception of economic evidence by courts at the CRMA's 7th University of South Australia Trade Practices Workshop held in Adelaide in October 2009.  His paper Economists in Court - A comparative assessment of procedure and experience in Australia and England and Wales from an economist's perspective (click to download) examined how expert economic evidence has been used in competition law litigation in the two countries. Cento is an Adjunct Senior Research Fellow to the Centre of Regulation and Market Analysis (CRMA), and a member of its advisory Board

Casenote - Markets Without Substitutes
Our May 2009 Casenote Markets Without Substitutes - Substitution versus constraints as the key to market definition looks at whether markets are defined as consisting of products that are close substitutes or even interchanageable in use. It finds that there are many instances and case law defining markets for products which are not substitutes or even used for the same purpose, and can lead to apparently distinct markets being collapsed into one market consisting of upstream and downtream products in the supply chain.  The discussion points to contraints rather than substitutability being key to market definition, and that the focus on direct substitution between products can be misplaced and misleading. I slighty extended version was published in the European Competition Law Review in 2010.

European Cartel Fines and Prosecutions 1998-2009 - A statistical analysis

Case has updated its statistical analysis of the European Commission's prosecution of cartels. Our research report European Cartel Fines and Prosecutions 1998-2009 - An updated statistical analysis of fines under the 1998 Penalty Guidelines  examines the administrative fines imposed on price-fixers over the period 1998 to September 2009. It examines in detail fines imposed in 42 fully reported decisions covering 56 cartels involving 306 firms under the 1998 Penalty Guidelines, leniency programme, and adjusted by the courts on appeal.  

Casenote, Cartel Damage Pass-Through

Our September Casenote, Cartel Damage Pass-through - How economics can provide rules of thumb as to who bears the overcharge, looks at the  incidence of cartel overcharges. The calculation of damages is made difficult where defendants can mount a pass-on defence. This Casenote examines how basic economics is able to provide rules of thumb to assist the parties and the courts to make reasonable assumptions about the incidence of cartel overcharges as between direct and different classes of indirect purchasers.

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