The More Economic Approach 20 years down the road. What went wrong?
The More Economic Approach 20 years down the road. What went wrong?
In 2005, DG COMP presented its Discussion Paper outlining how to align Article 102 with modern economic theory and thinking. An essential component in this was the introduction of the As Efficient Competitor (AEC) test, offering a path for evaluating (alleged) priced-based abuse. This led to the Enforcement Paper in 2008. Officially, indicating how enforcers should or could prioritize cases, but in reality, also limiting their scope for intervention. Opinions differ regarding the success of the more economic approach and the AEC test, but the adoption of this has undeniably raised the bar for building an Article 102 case. According to DG COMP, it has even led to under-enforcement, commanding a review. Celebrating the 20th anniversary of the Discussion Paper, CCLL has organized an event casting light upon how and why we got the Discussion Paper and the AEC test, its impact on enforcement, and what DG COMP would like to replace the AEC test with.
Date: Monday, February 3, 2025
Location: Copenhagen Business School, Solbjerg Plads 3, SP103 and online
Time: 12.00 to 16.00.
Program:
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12-00 – 12.15 |
Welcome and introduction. |
Christian Bergqvist, Associate Professor at Copenhagen University |
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12.15 – 13.00 |
How did the economists end up in the driver’s seat? How did we get to the Discussion Paper (2005) and the Enforcement Paper (2008)? Are the Draft Guidelines (2024) the revenge of the lawyers? |
Svend Albæk, Visiting Fellow, European University Institute, and Senior Consultant, Charles River Associates; former Deputy Chief Economist, DG Competition, European Commission |
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13.00 – 13.45 |
Putting the AEC test into work. How did the More Economic Approach and the AEC test change how we review rebates? |
Rie Paving Mortensen, Chief Economist, Partner at Plesner Law firm |
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13.45 – 14.15 |
Break with coffee and cake. |
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14.15 – 15.00 |
Blame it on the economist – Did the AEC make a difference? Would cases such as Laurits Knudsen and Post Danmark I have ended differently without the More Economic Approach and the AEC test? |
Peter Stig Jakobsen and Jesper Kaltoft, partners Bech Bruun Law firm |
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15.00 - 15.45 |
Full speed ahead. Why does DG COMP want to replace the More Economic Approach and the AEC test, and how would that affect self-assessment? |
Lars Kjølbye, partner Latham & Watkins LLP
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15.45 – 16.00 |
Questions and conclusion.
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Kathrine Søs Jacobsen Cesko, Assistant Professor at Copenhagen Business School |
Register here to attend: seminar.jur@cbs.dk. Please state whether you are a face-to-face or online participant and want a participation certificate.
Registration deadline: January 29, 2025.
Online attendance: You will receive a link to the event a few days in advance.
The event is organized by Copenhagen Competition Law Lab, hosted by CBS LAW and sponsored by RBB Economics.