Publications

Our consultants are renowned speakers, experts and authors. A selection of current publications in the relevant literature, presentations and opinion pieces can be found on this page.

Presentation

The Effects of Private Damage Claims on Cartel Stability: Experimental Evidence
September 2019

Normann, H.-T., 46th Annual Conference of the European Association for Research in Industrial Economics (EARIE), Barcelona, Spain.

Recently, private damage claims in cartel cases have gained attention and triggered a debate aboutpotentially negative effects they may have on leniency, hitherto a prime tool to uncover cartels. Privatedamage claim actions can lead to a trade off between public and private enforcement and harm theattractiveness of leniency programs because whistleblowers only obtain no or only restricted protectionagainst third-party damage claims. This may actually stabilize cartels. We run a repeated homogeneous-good Bertrand triopoly experiment to study this trade off. Firms can choose whether to join a cartel andmay apply for leniency afterwards. Our design extends existing leniency experiments by adding a stagewith possible private damages after a cartel has been uncovered (either through a whistleblower or by thecartel authority). We further investigate two communication formats. We compare unrestricted chat tothe structured announcements (of “acceptable” prices or price ranges) the literature has focussed on. Wefind that the implementation of private damage claims decreases cartel formation but makes cartels morestable. The impact on consumer welfare depends on the form of communication.

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Statement

Europa braucht eine Antwort auf Chinas Industriepolitik
August 2019

Haucap, J., Frankfurter Allgemeine Zeitung.

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Publication

Competition and Competition Policy in a Data-Driven Economy
July/August 2019

Haucap, J., Intereconomics: Review of European Economic Policy, 54, 201-208.

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Presentation

Competition and Antitrust in the Digital Age
July 2019

Haucap, J., Conference of the German Law & Economics Association.

Link to conference

Publication

Screening instruments for monitoring market power - The Return on Withholding Capacity Index (RWC)
June 2019

Bataille, M., O. Bodnar., A. Steinmetz and S. Thorwarth, Energy Economics, 81, 227-237.

While markets have been liberalized all over the world, incumbents often still hold a dominant position, e.g. on energy markets. Thus, wholesale electricity markets are subject to market surveillance. Nevertheless, consolidated findings on abusive practices of market power and their cause and effect in these markets are scarce and non-controversial market monitoring practices fail to exist. Right now, the Residual Supply Index (RSI) is the most important instrument for market monitoring. However, a major drawback of this index is its focus on just one specific aspect of market power in wholesale electricity markets whereas different consequences of market power are possible. Hence, markets could be distorted in several ways and we propose the “Return on Withholding Capacity Index” (RWC) as a complementary index to the RSI. The index is a measure of the firms' incentive to withhold capacity. The benefits and practicability of the RWC are shown by an application on data for the German-Austrian electricity wholesale market in 2016.

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Publication

Ökonomische Grundlagen der Anreizregulierung
June 2019

Coenen, M. and J. Haucap, in: B. Holznagel & R. Schütz (eds.), ARegR – Kommentar zum Anreizregulierungsrecht, 137-161, 2. edition, Verlag C.H. Beck: Munich.

Statement

Kartellrechtliche Missbrauchsaufsicht im digitalen Zeitalter
July 2019

Haucap, J., Global Mergers & Transactions, TLE-022-2019.

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Presentation

Kartellrechtliche Missbrauchsaufsicht in der digitalen Wirtschaft
June 2019

Haucap, J., Hamburg Tax and Legal Excellence, Local Lounge Hamburg.

Link to conference

Presentation

Anforderungen an die 10. GWB-Novelle
June 2019

Haucap, J., Working meeting of the Studienvereinigung Kartellrecht, Duesseldorf.

Link to program

Statement

Portoerhöhungen – Was da abläuft, ist schon eine Frechheit
May 2019

Haucap, J., Interview published in Die Welt (online).

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Presentation

Big Tech im Check: Wettbewerb um Daten und Chancengleichheit im Netz
May 2019

Haucap, J., Panel discussion, Media Convention Berlin.

Link to conference

Presentation

Macht, Markt und Wettbewerb: Was steuert die Datenökonomie?
May 2019

Haucap, J., Annual conference - North Rhine-Westphalian Acadamy of Sciences, Humanities and the Arts.

Link to conference

Presentation

Competition Issues in Online Markets
April 2019

Haucap, J., Annual conference 2019 - Royal Economic Society, University of Warwick, UK.

Link to conference

Presentation

Der E.ON/RWE-Deal aus wettbewerbsökonomischer Sicht
March 2019

Heimeshoff, U., enerminds Workshop der Enervis GmbH in Berlin.

Publication

How Mergers Affect Innovation: Theory and Evidence
March 2019

Haucap, J., A. Rasch and J. Stiebale, International Journal of Industrial Organization, 63, 283-325.

This article analyses how horizontal mergers affect innovation of the merged entity and its non-merging competitors. Using data on horizontal mergers among pharmaceutical firms in Europe and applying propensity score matching estimators, we find that average patenting and R&D of the merged entity and its rivals declines substantially in post-merger periods. We show that this result is consistent with the predictions from an oligopoly model with heterogeneous firms, as well as a patent race model, when pre-merger R&D intensity is sufficiently high. Consistent with our theoretical model, we find that negative effects of mergers on innovation are concentrated in markets with high R&D intensity and in technology classes with overlap in pre-merger innovation activities of merging and rival firms.

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Publication

Data Protection and Antitrust: New Types of Abuse Cases? An Economist’s View in Light of the German Facebook Decision
February 2019

Haucap, J., CPI Antitrust Chronicle 2/2019, 1-7.

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Report

Sharing Economy in Deutschland - Stellenwert und Regulierungsoptionen für Beherbergungsdienstleistungen
January 2019

Busch, C., V. Demary, B. Engels, Haucap, J., C. Kehder, I. Loebert and C. Rusche, Nomos, Baden-Baden.
Commissioned by the Federal Ministry for Economic Affairs and Energy (BMWi).

Das Wachstum der Sharing Economy birgt sowohl Chancen als auch Herausforderungen. Das Buch analysiert verschiedene Sektoren der Sharing Economy empirisch, mit einem Schwerpunkt auf dem Unterkunftssektor. Die Autoren erörtern Regulierungsoptionen und unterbreiten Vorschläge für Reallabore.

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Publication

Collusion and Bargaining in Asymmetric Cournot Duopoly - An experiment
January 2019

Fischer, C. and H.-T. Normann, European Economic Review, 111, 360-379.

In asymmetric dilemma games without side payments, players face involved cooperation and bargaining problems. The maximization of joint profits is implausible, players disagree on the collusive action, and the outcome is often inefficient. For the example of a Cournot duopoly with asymmetric cost, we investigate experimentally how players cooperate (collude implicitly and explicitly), if at all, in such games. In our treatments without communication, players fail to cooperate and essentially play the static Nash equilibrium (consistent with previous results).

With communication, inefficient firms gain at the expense of efficient ones. When the role of the efficient firm is earned in a contest, the efficient firm earns higher profits than when this role is randomly allocated. Bargaining solutions do not satisfactorily predict outcomes.

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Presentation

The Winner takes it all? Digitalisierung und neue Herausforderungen für die Wettbewerbspolitik
January 2019

Haucap, J., Ministry of Economic Affairs, Innovation, Digitalisation and Energy of the State of North Rhine-Westfalia.

Publication

Abgrenzung des Redispatch-Marktes
January 2019

Haucap, J., I. Loebert, S. Thorwarth, C. Helle and O. Raschka, Energiewirtschaftliche Tagesfragen (et), issue 1/2, 80-82.

Publication

Marktabgrenzung bei Stromerzeugung und Stromgroßhandel: Die Bedeutung von Redispatch-Märkten
October 2018

Haucap, J. and A. Pfannenschmidt, in: P. Rosin and A. Uhle (eds.), Recht und Energie: Liber amicorum für Ulrich Büdenbender zum 70. Geburtstag, 215-242, De Gruyter Oldenbourg: Berlin.

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Report

Modernisierung der Missbrauchsaufsicht für marktmächtige Unternehmen
August 2018

Schweitzer, H., Haucap, J., W. Kerber and R. Welker, Wirtschaftsrecht und Wirtschaftspolitik, 297, Nomos Verlag.
Commissioned by the Federal Ministry for Economic Affairs and Energy (BMWi).

Die Entwicklungen in der digitalen Wirtschaft, darunter die zunehmende Bedeutung von Daten als kritischer Inputressource in Produktions- und Distributionsprozessen und von digitalen Plattformen, gehen mit neuartigen Wettbewerbsgefährdungen einher. Sie werfen die Frage auf, ob das geltende deutsche und europäische Kartellrecht gewappnet ist, diesen wirksam und rechtzeitig zu begegnen. Das Bundesministerium für Wirtschaft und Energie (BMWi) hat die Autoren beauftragt zu untersuchen, ob die kartellrechtlichen Regeln zum Schutz vor dem Missbrauch wirtschaftlicher Macht hinreichend klar und effektiv sind. Das Ergebnis dieser Untersuchung ist die vorliegende Studie, die vertiefte Analysen und Empfehlungen zum Reformbedarf der kartellrechtlichen Missbrauchsaufsicht liefert.

Link to report

Publication

Outside Directors on the Board, Competition and Innovation
August 2018

Buchwald, A. and S. Thorwarth, International Journal of Economics and Business Research, 16 (2), 210-231.

We investigate the influence of non-executive outside directors on firms’innovative performancefora sample of 1,393 listed firms in the EU-15 member states plus Norway and Switzerland in the period 2005 to 2010. Our results showthat the fraction of non-executive outside directors on the board is associated with a significant decrease in the number of patent applications if competition in the market is low. This mayindicate that restrictive monitoring and lower advising competencesof outside directors mitigate executives’ incentives to innovate. In industries with effective competition, the negative influence of outsiders is offset by the pressure to focus on innovation strategies.

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Publication

One-Stop Shopping Behavior, Buyer Power, and Upstream Merger Incentives
April 2018

Baye, I., V. Von Schlippenbach and C. Wey, Journal of Industrial Economics, 66, 66-94.

We analyze how consumer preferences for one‐stop shopping affect the (Nash) bargaining relationships between a retailer and its suppliers. One‐stop shopping preferences create ‘demand complementarities’ among otherwise independent products which lead to two opposing effects on upstream merger incentives: first a standard double mark‐up problem and second a bargaining effect. The former creates merger incentives while the later induces suppliers to bargain separately. When buyer power becomes large enough, then suppliers stay separated which raises final good prices. We also show that our result can be obtained when wholesale prices are determined in a non‐cooperative game and under two‐part tariffs.

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Statement

Diese Marken sind für Edeka zu wichtig
February 2018

Wey, C., Interview published in Die Zeit (online).

Link to article