Now showing items 1-3 of 3
Legal Uncertainty, Competition Law Enforcement Procedures and Optimal Penalties
(University of St Andrews, 2014-07)
In this paper we make three contributions to the literature on optimal Competition Law enforcement procedures. The first (which is of general interest beyond competition policy) is to clarify the concept of “legal uncertainty”, ...
Decision Errors, Legal Uncertainty and Welfare: a General Treatment
(University of St Andrews, 2014-02)
This paper provides a general treatment of the implications for welfare of legal uncertainty. We distinguish legal uncertainty from decision errors: though the former can be influenced by the latter, the latter are neither ...
Penalizing Cartels: The Case for Basing Penalties on Price Overcharge
(University of St Andrews, 2014-09)
In this paper we set out the welfare economics based case for imposing cartel penalties on the cartel overcharge rather than on the more conventional bases of revenue or profits (illegal gains). To do this we undertake a ...