*This article is an automatic translation of the original article, provided here for your convenience. Read the original article. Anti-trust sanctions: What is the right amount? What is the extent of the under-dissuasion of the cartels in Europe? Additional information on our results Emmanuel COMBE and Constance MONNIER Vice-President, Competition Authority and Senior Lecturer, University of Paris I 1. Combe and Monnier (2007) have developed a methodology for estimating the optimal fines (both restitutionary and dissuasive) to be imposed on cartels, taking into account the main economic parameters that influence the extent of illicit overprofit, which is a minor part of the damage caused to the market. It appears that the higher the size of the affected market, the longer the
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CONFERENCE - ANTITRUST - FINES
Antitrust sanctions: How to achieve "optimal fines"? (Paris, 17 Oct. 2012)
This set of three papers is derived from the conference organized by the Concurrences Journal and the Chambre de commerce internationale of Paris that was held on 17th October 2012 in Paris. In the first article, Emmanuel Combe and Constance Monnier discuss their works of 2007 on the level of fines imposed against cartels in Europe and respond to the criticism by Allain, Boyer et Ponssard [2011], Boyer et Kotchoni [2011]. Relying on the latest developments on optimal sanction and on new estimates, they show that the results of their works showing that fines against cartels in Europe are under-deterrent remain fully valid. In the second paper, Marcel Boyer reviews the main issues and significant pitfalls in setting cartel fines and concludes that most fines imposed recently in the EU are above the critical deterrence level. For François Brunet, author of the last contribution, the record-breaking fine imposed by the European Commission against the producers of monitor tubes, revives the economic debate on the fair amount of antitrust sanctions. In order to improve the efficiency and fairness of its sanction policy, the Commission should conduct an analysis of the effects of the sanctioned cartels on a case-by-case basis, each time such analysis can be performed.
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