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Many products and services are produced with common costs and sold in bundles. It is often difficult - and sometimes impossible - to allocate total fixed costs of production to the various components of a commodity bundle. It is often rational, both for a dominant supplier and for its rivals, to offer substitutes and complements with implicit cross-subsidization. For a regulator, offerings above incremental costs but below total average costs may appear predatory - which they certainly can be, but not always. The complexity of pricing tests for commodity bundles makes it difficult to assess the competitive nature of observed pricing strategies, creating a risk of errors in intervention. To correctly assess the predatory nature of pricing, or attempts of price-squeeze, for example, requires a good understanding of the component relations, the structure of common costs and the ability of efficient rivals to replicate specific product bundles. This often requires advanced economic modelling and sophisticated empirical analysis. In this workshop, ENCORE brings several leading practitioners together to discuss the latest developments in pricing tests for commodity bundles from both a legal and an economic point of view.

Detail Summary
Date 3 April 2008
Time 00:00 - 00:00

Program

14.00-14.15

Welcome by Maarten Pieter Schinkel (ENCORE, chair)

14.15-15.00

Patrick Greenlee (US Department of Justice): "Assessing the Anticompetitive Effects of Multiproduct Pricing" (based on joint work with Dennis Carlton and Michael Waldman)

15.00-15.45

Andrea Coscelli (CRA International): "Predatory prices and price squeeze when the dominant player and its rivals sell different product bundles"

15.30-16.00

Coffee break

16.00-16.45

Peter Eijsvoogel (Allen & Overy): "Legal issues and practice of pricing tests for bundles in a regulated environment"

16.45-17.15

Discussion with the floor

17.15-18.00

Drinks

Registration

No fee will be charged. Please note however that we can only admit a limited number of participants, so early registration is advised. If you wish to attend please click the link below.

Please feel free to forward this message to anyone within your organization or outside who would be interested in attending.

Registration

Speaker Biographies

Patrick Greenlee earned a doctoral degree in economics from Northwestern University in 1995, and has served as an economist at the US Department of Justice Antitrust Division ever since. In 2000-2001, he was the Victor H. Kramer Foundation Fellow at the University of Chicago Law School. His research has appeared in the Journal of Industrial Economics, European Economic Review, International Journal of Industrial Organization, Antitrust Bulletin, and elsewhere. He has recently taught in the economics PhD programs at the University of Maryland and the University of Virginia.

Andrea Coscelli is a vice president at CRA International in London. Since finishing his PhD at Stanford University in January 1998, he has been working full-time on antitrust cases, including merger notifications in the EU, the UK and other member states, and economic analysis for clients involved in Article 81 and Article 82 proceedings with a special focus on the broadcasting and pharmaceutical industry. He has presented expert evidence to a number of antitrust and regulatory agencies, including the European Commission, the Office of Fair Trading, the Competition Commission in the UK, the Italian Telecom and Media Regulator, and the Dutch Telecom and Media Regulator. Dr. Coscelli is a regular speaker at European antitrust conferences and a co-founder (with John Fingleton and Patrick Rey) of the Association for Competition Economics (ACE) in 2003.

Peter Eijsvoogel is a partner at Allen & Overy LLP's Amsterdam office. He focuses on government regulation of business. He is a leading specialist in the field of communications law, representing both national and international clients in regulatory, litigation and contractual work. As much of his work pertains to the legal aspects of price regulation, interconnection and access questions, he has been involved in most communications related litigation on these issues in the Netherlands over the past fourteen years. His practice also involves work for clients in the financial services and healthcare sectors. During 2004 and 2005 he was Co-Chair of the Communications Law Committee (Cm) of the International Bar Association. Between 2003 and mid 2006 he combined his practice with the position of Managing Partner of Allen & Overy's Amsterdam office.

For more information on the workshop, please click the link below.

Website ENCORE

Location

OPTA, Zurich Toren, Muzenstraat 1, Den Haag, Room 505