Group litigation in European competition law a law and economics perspective

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1. Verfasser: Keske, Sonja E. (VerfasserIn)
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Sprache:English
Veröffentlicht: Antwerp [u.a.] Intersentia 2010
Schriftenreihe:European studies in law and economics 1
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adam_text IMAGE 1 CONTENTS ACKNOWLEDGMENTS V FOREWORD VII LIST OF ABBREVIATIONS XVII PREFACE 1 CHAPTER 1. ENFORCEMENT OF EUROPEAN COMPETITION LAW 5 A. THE RATIONALE OF EUROPEAN COMPETITION LAW 5 1. PROTECTION OF COMPETITION 5 2. TOTAL VERSUS CONSUMER WELFARE 9 B. ENFORCEMENT OF COMPETITION LAW IN THE EUROPEAN UNION 13 1. THE CLASSIC DEBATE: PRIVATE VERSUS PUBLIC ENFORCEMENT 16 1.1. ADVANTAGES OF PUBLIC ENFORCEMENT 17 1.1.1. PRIVATE INCENTIVES TO SUE ARE LACKING 18 1.1.2. LACK OF INFORMATION ON THE VICTIMS SIDE 19 1.1.3. LIMITED SANCTIONS IN PRIVATE ENFORCEMENT 20 1.1.4. SPECIFIC PUBLIC SANCTIONS NEEDED 21 1.2. ADVANTAGES OF PRIVATE ENFORCEMENT 23 2. THE RIGHT PRIVATE ENFORCEMENT AS COMPLEMENT TO PUBLIC ENFORCEMENT 25 3. THE DEVELOPMENT IN THE EUROPEAN UNION 26 3.1. ONE WAY FEE-SHIFTING 28 3.2. FINANCING MECHANISMS 29 3.3. TYPES OF DAMAGES AWARDED 31 3.4. PASSING-ON DEFENCE AND STANDING OF INDIRECT BUYERS 33 3.5. ACCESS TO EVIDENCE 35 3.6. GROUP LITIGATION MECHANISMS 36 C. SUMMARY 36 CHAPTER 2. GROUP LITIGATION: A GENERAL LEGAL AND ECONOMIC FRAMEWORK 39 A. DEFINITION OF GENERAL CONCEPTS 39 1. THE TYPES OF GROUP LITIGATION 40 INTERSENTIA XI IMAGE 2 GROUP LITIGATION IN EUROPEAN COMPETITION LAW 1.1. JOINDER PROCEDURES 40 1.2. REPRESENTATIVE ACTIONS 41 1.3. COLLECTIVE ACTIONS 43 2. ESTABLISHING GROUP MEMBERSHIP 43 2.1. OPT-IN SYSTEMS 44 2.2. OPT-OUT SYSTEMS 44 2.3. MANDATORY SYSTEMS 45 3. REMUNERATION OF LAWYERS 46 3.1. HOURLY FEE ARRANGEMENTS 46 3.2. CONDITIONAL FEE ARRANGEMENTS 46 3.3. CONTINGENCY FEE ARRANGEMENTS 47 4. THE TYPES OF VICTIMS 47 B. THE LEGAL FRAMEWORK 48 1. THE TYPES OF INFRINGEMENTS 48 1.1. HORIZONTAL AGREEMENTS 49 1.2. VERTICAL AGREEMENTS 50 1.3. ABUSE OF A DOMINANT POSITION 52 2. OTHER RELEVANT REGULATIONS 53 C. THE ECONOMIC FRAMEWORK 56 1. THE RATIONALITY ASSUMPTION 56 2. THE THEORY OF OPTIMAL DETERRENCE 57 2.1. OPTIMAL SANCTION 59 2.2. OPTIMAL SANCTION FOR ANTICOMPETITIVE CONDUCT 64 2.3. OPTIMAL DETERRENCE 66 2.4. OPTIMAL ENFORCEMENT 67 2.5. ACTIONS FOR DAMAGES AS DETERRENCE TOOL 67 2.6. POLICY IMPLICATIONS OF THE RATIONAL CHOICE MODEL 68 3. OBSTACLES IN CASES OF COMPETITION LAW INFRINGEMENTS 69 3.1. INFORMATION ASYMMETRY 69 3.2. RATIONAL APATHY 71 3.3. FREE RIDING BEHAVIOUR 73 3.4. TOTAL ENFORCEMENT COSTS TO SOCIETY ARE NOT MINIMISED 73 D. SUMMARY 74 CHAPTER 3. OPTIMAL GROUP LITIGATION FROM A DETERRENCE PERSPECTIVE 75 A. DETERRENCE EFFECT OF FOLLOW-ON SUITS VERSUS STAND-ALONE SUITS 75 B. DETERRENCE EFFECTS OF STAND-ALONE SUITS WITH REGARD TO DIFFERENT TYPES OF INFRINGEMENTS 78 1. INTRODUCTION 78 2. THE OPTIMAL SANCTION IN STAND-ALONE SUITS 79 2.1. THE OPTIMAL SANCTION AND GROUP MEMBERSHIP 79 YJI INTERSENTIA IMAGE 3 CONTENTS 2.2. REDUCING FREE RIDING AND MORAL HAZARD PROBLEMS 81 2.3. PROCEDURAL EFFICIENCY 82 2.4. THE OPTIMAL SANCTION AND SETTLEMENTS 82 C. THE OPTIMAL ENFORCEMENT AGENT 85 1. LEAD PLAINTIFF/ ATTORNEY (COLLECTIVE ACTION) 87 1.1. FREE RIDER PROBLEMS 88 1.2. OVERCOMING RATIONAL APATHY 89 1.2.1. THE TOTAL COSTS OF LITIGATION 89 1.2.2. SPREADING THE COSTS 90 1.2.3. USING OTHER WAYS OF FINANCING 90 1.2.4. THE LAWYER AS AGENT 92 1.2.5. CONCLUSION 92 1.3. ASYMMETRIC INFORMATION 93 1.4. PRINCIPAL-AGENT PROBLEMS 96 1.5. NUISANCE SUITS 101 1.6. MINIMISATION OF COSTS 104 1.7. CONCLUSION 105 2. REPRESENTATIVE ORGANISATION 106 2.1. FREE RIDING 107 2.2. RATIONAL APATHY 107 2.3. INFORMATION ASYMMETRY 109 2.4. NUISANCE SUITS ILL 2.5. PRINCIPAL-AGENT PROBLEMS 112 2.6. MINIMISATION OF ENFORCEMENT COSTS 114 2.7. CONCLUSION 114 3. THE MARKET BASED SOLUTION 116 3.1. FREE RIDING 123 3.2. RATIONAL APATHY 124 3.3. INFORMATION ASYMMETRY 125 3.4. NUISANCE SUITS 125 3.5. MINIMISATION OF ENFORCEMENT COSTS 126 3.6. PRINCIPAL-AGENT PROBLEMS 129 3.7. CONCLUSION 130 4. DETERMINING THE AGENT: AUCTION MECHANISMS 131 4.1. AUCTIONS BEFORE DETECTION 132 4.1.1. FREE RIDING 134 4.1.2. RATIONAL APATHY 134 4.1.3. ASYMMETRIC INFORMATION 135 4.1.4. NUISANCE SUITS 136 4.1.5. PRINCIPAL-AGENT PROBLEMS 136 4.1.6. MINIMISATION OF COSTS 137 4.1.7. CONCLUSION 138 INTERSENTIA IMAGE 4 GROUP LITIGATION IN EUROPEAN COMPETITION LAW 4.2. AUCTIONS AFTER DETECTION 138 4.2.1. FREE RIDING 140 4.2.2. RATIONAL APATHY 140 4.2.3. ASYMMETRIC INFORMATION 142 4.2.4. NUISANCE SUITS 142 4.2.5. PRINCIPAL-AGENT PROBLEMS 142 4.2.6. MINIMISATION OF COSTS 143 4.2.7. CONCLUSION 144 D. CONCLUSIONS 144 CHAPTER 4 THE EUROPEAN WAY AHEAD 149 A. THE WAY AHEAD AS PAINTED IN THE WHITE PAPER 149 B. EVALUATION OF THE PROPOSED MECHANISMS WITH REGARD TO DETERRENCE 151 1. OVERCOMING EXISTING OBSTACLES TO PRIVATE LITIGATION 152 1.1. FREE RIDER PROBLEMS 152 1.2. OVERCOMING RATIONAL APATHY 156 1.3. ASYMMETRIC INFORMATION 158 1.4. PRINCIPAL-AGENT PROBLEMS 160 2. REACHING THE OPTIMAL SANCTION 162 3. MINIMISATION OF COSTS 165 3.1. MINIMISING THE RISK OF NUISANCE SUITS 166 3.2. REACHING PROCEDURAL EFFICIENCY 169 3.3. INTERACTION WITH LENIENCY PROGRAMS 172 4. CONCLUSION 172 C. LEGAL OBSTACLES CREATED BY TORT LAW AND OTHER AREAS OF LAW 173 1. LIMITATIONS CONCERNING THE OPTIMAL SANCTION 174 2. LIMITATIONS CONCERNING MANDATORY GROUP LITIGATION 178 3. LIMITATIONS CONCERNING THE POSSIBILITIES TO REWARD ENFORCERS 180 3.1. TRANSFER OF RIGHTS 180 3.2. CONTINGENCY FEE OF 100 PERCENT 182 3.3. CYPRES DISTRIBUTION 183 D. OTHER SPECIFIC AIMS OF THE COMMISSION AND THEIR REALISATION 183 1. THE GOAL OF COMPENSATORY JUSTICE 184 1.1. FULL COMPENSATION 184 1.2. ALL VICTIMS 185 1.3. CONCLUSIONS 187 2. INTERMEDIARY GOALS 187 2.1. REDUCING THE DIFFERENCE BETWEEN SMALL DAMAGES AND LARGE INDIVIDUAL COSTS 187 2.2. FOSTERING STAND-ALONE AS WELL AS FOLLOW-ON ACTIONS 188 2.3. PRESERVING COMPETITION IN THE INTERNAL MARKET (DETERRENCE) .. 189 X LV INTERSENTIA IMAGE 5 CONTENTS 3. CONCLUSION 189 E. GENERAL ASSESSMENT 189 CHAPTER 5. COMPARISON AND ANALYSIS OF SELECTED LEGAL SYSTEMS 193 A. UNITED STATES OF AMERICA 194 1. THE US FEDERAL LEGAL SYSTEM 194 1.1. JOINDER AND CONSOLIDATION 194 1.2. THE CLASS ACTION 195 1.3. OTHER RELEVANT ISSUES 197 1.3.1. RULES ON DAMAGES 197 1.3.2. COSTS, FEES AND COST-SHIFTING RULES 199 1.3.3. PASSING-ON DEFENCE 201 1.3.4. DISCLOSURE RULES 201 1.3.5. ROLE OF JUDGES 202 1.3.6. JURY TRIALS 203 1.3.7. MULTIPLE NATIONWIDE CLASS ACTIONS 204 2. DETERRENCE EFFECTS 205 2.1. JOINDER AND CONSOLIDATION PROCEDURE 205 2.2. CLASS ACTIONS 205 B. UNITED KINGDOM 208 1. THE LEGAL SYSTEM 208 1.1. FORMS OF GROUP LITIGATION MECHANISMS IN COMPETITION LAW INFRINGEMENTS 208 1.1.1. LITIGATION BEFORE ORDINARY COURTS 209 1.1.2. GROUP LITIGATION ORDERS 211 1.1.3. ACTIONS FOR DAMAGES BEFORE THE COMPETITION APPEAL TRIBUNAL 214 1.2. OTHER RELEVANT ISSUES 217 1.2.1. RULES ON DAMAGES 217 1.2.2. COSTS, FEES AND COST-SHIFTING RULES 218 1.2.3. PASSING-ON DEFENCE 220 1.2.4. DISCLOSURE RULES 221 1.2.5. THE ROLE OF JUDGES 221 2. DETERRENCE EFFECTS 222 2.1. GROUP LITIGATION ORDER IN GENERAL 222 2.2. ACTIONS FOR DAMAGES DUE TO COMPETITION LAW INFRINGEMENTS .. 225 C. GERMANY 228 1. THE LEGAL SYSTEM 228 1.1. TEST CASE PROCEDURES (KAPITALANLEGER-MUSTERVERFAHRENS- GESETZ) 228 1.2. GROUP LITIGATION IN COMPETITION LAW 230 INTERSENTIA XV IMAGE 6 GROUP LITIGATION IN EUROPEAN COMPETITION LAW 1.2.1. JOINDER, CONSOLIDATION AND ASSIGNATION 231 1.2.2. REPRESENTATIVE INJUNCTION ACTIONS 231 1.2.3. REPRESENTATIVE ACTIONS FOR (RESTITUTIONARY) DAMAGES: SKIMMING-OFF PROCEDURES 232 1.2.4. ASSIGNATION AS SPECIAL CASE: THE CARTEL DAMAGE CLAIMS COMPANY 233 1.3. OTHER RELEVANT ISSUES 234 1.3.1. RULES ON DAMAGES 234 1.3.2. COSTS, FEES AND COST-SHIFTING RULES 235 1.3.3. PASSING-ON DEFENCE: AN OPEN QUESTION IN GERMANY.... 237 1.3.4. DISCLOSURE RULES 238 1.3.5. THE ROLE OF JUDGES 239 2. DETERRENCE EFFECTS 239 2.1. REPRESENTATIVE SKIMMING-OFF PROCEDURES 239 2.2. THE CARTEL DAMAGE CLAIM COMPANY MODEL 240 2.3. TEST CASE PROCEDURES AKIN TO THE KAPMUG 241 D. CONCLUSION 242 CHAPTER 6 SUMMARY, POLICY IMPLICATIONS AND FUTURE RESEARCH 245 A. SUMMARY 245 B. POLICY IMPLICATIONS 248 C. FUTURE RESEARCH 251 REFERENCE LIST 253 XVI INTERSENTIA
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publishDate 2010
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publisher Intersentia
record_format marc
series European studies in law and economics
series2 European studies in law and economics
spellingShingle Keske, Sonja E.
Group litigation in European competition law a law and economics perspective
European studies in law and economics
Europarecht
Antitrust law Economic aspects European Union countries
Class actions (Civil procedure) Economic aspects European Union countries
Antitrust law Economic aspects
Class actions (Civil procedure) Economic aspects
Rechtspleging gtt
Groepsverband gtt
Europees recht gtt
Rechtseconomie gtt
title Group litigation in European competition law a law and economics perspective
title_auth Group litigation in European competition law a law and economics perspective
title_exact_search Group litigation in European competition law a law and economics perspective
title_full Group litigation in European competition law a law and economics perspective Sonja E. Keske
title_fullStr Group litigation in European competition law a law and economics perspective Sonja E. Keske
title_full_unstemmed Group litigation in European competition law a law and economics perspective Sonja E. Keske
title_short Group litigation in European competition law
title_sort group litigation in european competition law a law and economics perspective
title_sub a law and economics perspective
topic Europarecht
Antitrust law Economic aspects European Union countries
Class actions (Civil procedure) Economic aspects European Union countries
Antitrust law Economic aspects
Class actions (Civil procedure) Economic aspects
Rechtspleging gtt
Groepsverband gtt
Europees recht gtt
Rechtseconomie gtt
topic_facet Europarecht
Antitrust law Economic aspects European Union countries
Class actions (Civil procedure) Economic aspects European Union countries
Antitrust law Economic aspects
Class actions (Civil procedure) Economic aspects
Rechtspleging
Groepsverband
Europees recht
Rechtseconomie
Europäische Union. Mitgliedsstaaten
url http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=021173398&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA
volume_link (DE-604)BV037184720
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