The Economics of Article 81(3)
Brussels, Belgium
27 January 2005- 28 January 2005
Hosted By: International Business Conferences (IBC)
NERA Director Dr. Mark Williams, Chair of NERA's European Competition Policy Practice, spoke at the IBC conference on The Use of Economics in Competition Law at the Renaissance Hotel in Brussels on 27 and 28 January 2005. On a common platform with Lars Kjolbye, Deputy Head of the Priority-Setting and Scrutiny Unit at the European Commission's DG Competition, Dr. Williams discussed the Commission's Notice on Article 81(3).
Dr. Williams also commented on the relationship between A81(1) and A81(3) under the new modernization regime when agreements can no longer be notified. He pointed out important differences in the economic effects-based assessment between horizontal and vertical agreements.
The presentation explained how the A81(3) criteria can be applied in practice, with particular focus on efficiencies, consumer benefits and the indispensability of restrictions on competition. These involve an understanding of the relevant counterfactual, agreement-specificity, the difference between variable and fixed costs, as well as pass-through of cost savings.
The conference is an established annual event at which experienced competition policy economists provide a practical review of relevant economic principles in competition law matters. This year's edition included a keynote address by Luke Froeb, Chief Economist of the Federal Trade Commission. Other speakers included Professor Michael Katz from the University of California at Berkeley and Nadia Calvino who is the General Director of the Spanish Competition Authority.
Dr. Williams is a frequent speaker at IBC conferences. His previous presentations included a discussion of the European Commission's Horizontal Merger Guidelines and of the use of economics under UK competition law.
To contact us about this event, please click here.
