Recent changes in national competition laws and enforcement guidelines, including those of the European Commission, increase the scope for considering sustainability benefits in the assessment of horizontal cooperations. Abstracting from (standard) arguments that relate to cost sharing,...

In this article the forgotten role of prices in the analysis of vertical effects is described. While at least some vertical restraints have the potential to entail anticompetitive harm, it is demonstrated that competition law may be overshooting the mark if no account is taken of both, the...

German Abstract: Der Aufsatz untersucht die wesentlichen Bestimmungsfaktoren von Preisschirmeffekten, die entstehen, wenn durch eine kartellinduzierte Preiserhöhung Nachfrage auf Substitute von Kartellaußenseitern umgelenkt wird. Solche Preisschirmeffekte entstehen unabhängig davon, ob die...

This paper proposes an indirect tax approach to derive positive and normative implications of regulatory interference in compensation contracts, focusing on recent mandatory deferral and clawback requirements in the financial sector. Moderate deferral requirements for bonus-pay typically lead to...