The Impala Decision: An Economic Critique

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Series Details Volume 3, Number 1, Pages 31-47
Publication Date January 2007
ISSN 1744-1056
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Introduction:

"One of the most significant developments in EU competition law during 2006 was the Court of First Instance’s (CFI) annulment of the European Commission’s decision to clear the merger of Sony and BMG, after an appeal brought by Impala, an association of independent music producers."
"This article is organised as follows. Section B sets out the economically important features of the CFI’s judgment, while section C details three seminal models from the academic literature which deal with joint dominance. Section D analyses the closeness of fit between the CFI’s decision and the relevant theory, and section E considers differences between the findings of the Commission in Sony/BMG and in Gencor/Lonrho which make it considerably easier to support a finding of coordinated effects in the latter case. Section F presents an alternative model, not involving coordinated effects, which would encompass the features found in the market by the European Commission and the CFI. Finally, section G concludes."
Source Link Link to Main Source https://doi.org/10.1080/17441056.2007.11428449
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