CRA International (London)

Ian Small

CRA International (London)
Economist (Vice President)

Dr Small is a vice president in CRA’s European Competition Practice, and is a specialist in applying econometric techniques to antitrust matters. Since becoming an economic consultant in 1999 he has worked on a large number of competition cases in various jurisdictions. These include merger cases before the European Commission, including Pernod Ricard/V&S, BAT/STK, Kerling, Linde/BOC and adidas/Reebok and before the UK competition authority, such as HRG/Focus, Stericycle/STG and Boots/Alliance Unichem. He has also worked on a number of non-merger cases, including the EU Commission’s investigation into Airfreight, the OFT’s investigations into the Diary Product Price Initiative and Scottish Milk Prices, as well as various Competition Commission market inquires, including Northern Ireland PCAs and Domestic Bulk LPG supplies. Prior to becoming an economic consultant, Dr Small was an economic specialist at the Bank of England.

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447 Bulletin

Ian Small, Simon Chisholm The UK Competition Appeals Tribunal upholds a decision to prohibit a merger in the energy and commodities trading sector (Intercontinental Exchange / Trayport)


The CAT upheld on 6 March 2017 the CMA’s decision to prohibit ICE’s acquisition of the energy and commodities trading platform Trayport. The CMA’s original decision found that ICE could use ownership of Trayport to foreclose competitors, shifting liquidity to its own exchanges. It was the first (...)

3704 Review

Ian Small Econometric analyses of unilateral effects in merger cases


Econometric analyses such as demand estimation and reduced form price analysis are increasingly being used in Europe by both competition authorities and the merging parties to provide direct evidence on the unilateral effects of mergers. Unlike most other evidence and analyses used in merger (...)

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