LAW AND ECONOMY : DETERMINATION OF FINES - PROPORTIONALITY - DETERRENCE - ECONOMIC MODEL - LIMITS

The determination of fines

This set of two papers is derived from the training session on the “Determination of fines” organized by Concurrences Review that was held on 10th November 2011 in Paris. The first contribution written by Prof. Frédéric Jenny is dedicated to the economic model of the deterrence and its limits. The second contribution, written by Me Florence Ninane, provides the lawyer’s point of view.

*This article is an automatic translation of the original article, provided here for your convenience. Read the original article. Calculation of penalties Penalties for Anti-Competitive Practices: The Economic Model of Deterrence and its Limits Frédéric Jenny Professor of Economics at ESSEC Business School, Chairman of the OECD Competition Committee 1. Competition law in Europe has evolved profoundly over the last two decades. 2. Neoclassical economic analysis has had an increasingly important influence not only on the interpretation of the substantive rules of competition law but also on the policy of sanctioning anti-competitive practices. 3. As a first step, the consideration of the lessons of the economic model of deterrence by competition authorities has fuelled a debate among

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Frédéric Jenny, Florence Ninane, The determination of fines, February 2012, Concurrences N° 1-2012, Art. N° 42446, www.concurrences.com

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