Journal ArticleDOI
Public vs. Private Enforcement of Antitrust Law: A Survey
Ilya Segal,Michael D. Whinston +1 more
TLDR
In this article, the authors survey the general economic issues regarding public vs. private enforcement and the (relatively scarce) economic literature that pertains to it, and the analysis is pertinent to the 2005 proposal by the European Commission to facilitate private antitrust litigation in the EU by changing the procedural rules and some substantive law.Abstract:
There are two basic approaches to deterring socially harmful behavior: with the threat of litigation by private parties or with enforcement by public agencies. Both approaches are used in most countries, but in varying degrees. Private litigation is common in the United States and (to a lesser extent) the United Kingdom and other common law jurisdictions. In contrast, the civil law countries, such as those of continental Europe, have far less private litigation, and rely more on enforcement by public agencies. The difference between the two systems is notable in many areas of law, but it is particularly prominent in the enforcement of antitrust law. The present paper surveys the general economic issues regarding public vs. private enforcement and the (relatively scarce) economic literature that pertains to it. The analysis is pertinent to the 2005 proposal by the European Commission to facilitate private antitrust litigation in the EU by changing the procedural rules and some substantive law.read more
Citations
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Journal ArticleDOI
Public and Private Enforcement of Securities Laws: Resource-Based Evidence
Howell E. Jackson,Mark J. Roe +1 more
TL;DR: This paper found that public enforcement of investor protection via both disclosure and private liability rules goes hand in hand with financial market development, but public enforcement fails to correlate with financial development and is unlikely to facilitate it.
Journal ArticleDOI
Public and private enforcement of securities laws: Resource-based evidence ☆
Howell E. Jackson,Mark J. Roe +1 more
TL;DR: This paper found that public enforcement of investor protection via both disclosure and private liability rules goes hand in hand with financial market development, but public enforcement fails to correlate with financial development and is unlikely to facilitate it.
Book
Group Litigation in European Competition Law: A Law and Economics Perspective
TL;DR: In this article, an economic and legal framework was used to analyse the efficiency of group litigation mechanisms with regard to deterrence of competition law infringements, and the analysis showed that neither collective nor representative actions will be the optimal group litigation mechanism in the sense of the best group litigation to reach the goal of efficient deterrence.
Posted Content
The Social versus the Private Incentive to Bring Suit in a Costly Legal System
TL;DR: In this paper, the authors examined how the incentives of private parties to bring suit relate to what would be socially appropriate given the costs of using the legal system; and the answer presented in the model that is examined involves two elements.
Journal ArticleDOI
Public and Private Enforcement of Competition Law - A Differentiated Approach
Kai Hüschelrath,Sebastian Peyer +1 more
TL;DR: In this paper, the authors investigate the relationship between public and private enforcers introducing a more differentiated approach, taking into account that the costs and benefits of detection and prosecution may change with a variation of the type of anticompetitive conduct.
References
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Journal ArticleDOI
The Economic Institutions of Capitalism
TL;DR: The Economic Institutions of Capitalism as mentioned in this paper is a seminal work in the field of economic institutions of capitalism. Journal of Economic Issues: Vol. 21, No. 1, pp. 528-530.
Journal ArticleDOI
Crime and Punishment: An Economic Approach
TL;DR: In fact, some common properties are shared by practically all legislation, and these properties form the subject matter of this essay as discussed by the authors, which is the basis for this essay. But, in spite of such diversity, some commonsense properties are not shared.
Book ChapterDOI
The use of knowledge in society
TL;DR: In this paper, it was pointed out that many of the current disputes with regard to both economic theory and economic policy have their common origin, it seems to me, in a misconception about the nature of the economic problem of society.
Book
Foundations of Economic Analysis of Law
Steven Shavell,Steven Shavell +1 more
TL;DR: The authors provides a comprehensive, economically-oriented treatment of the basic areas of law, namely, property law, tort law, contract law, and criminal law, with a focus on welfare economics, morality, and law aimed at a broad audience.
Book
Lectures on Antitrust Economics
TL;DR: Whinston as mentioned in this paper provides an accessible and lucid account of the economics behind antitrust law, looking at some of the most recent developments in antitrust economics and highlighting areas that require further research.