Conference - Reform of vertical distribution - Roundtable I : A stronger economic analysis : Market power, efficiency gains... What changes for the new approach? (Paris, 27 May 2010)

This first roundtable of the conference “Reform of vertical distribution”, Paris, 27 may 2010, is dedicated to the role of economic analysis. The economists insist that the reform is a mere update of the vertical guidelines rather than a massive change with regard to economic analysis. It is nevertheless the less important to identify some major changes such as the clarification of the absence of any per se rule, the possibilities offered to sell online within selective distribution networks and the introduction of the double market share threshold. One should also recognize the important effort made to develop the various sections presenting the pro- and anticompetitive effects of various types of restraints. On the other hand, the lawyer focuses on the abolition of the unrebuttable character of presumptions of illegality attached to the black-listed restrictions in the new Regulation. This adjustment paves the way for a stronger economic analysis which can now use the argument of efficiency gains. This new situation is specially appreciable concerning resale price maintenance. By contrast, the introduction of a double market share threshold to be able to presume the absence of market power is not so convincing.