The role of economics in EU private antitrust enforcement. theoretical framework, empirical methods and practical issues.

This chapter provides an overview of the most salient economic issues involved in the estimation of private antitrust damages in light of the approach currently adopted in Europe. Since the publication of the ‘Practical Guide’ on damage quantification by the EU Commission in 2013, many uncertainties as to the appropriate general economic framework for damages estimation have been resolved. The chapter illustrates, in a language easily understandable to non-economists, the key theoretical and methodological tenets underlying economic practice in the quantification of antitrust damages. It provides an accessible explanation of the logic underlying the main empirical methods used by economic experts and highlights some of the challenges that arise in their application.