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Estimating Damages in Bid Rigging Cases

September 2016

IKAR

The present article discusses the various stages and methods of estimating damages caused by bid rigging. Firstly, the importance and essence of constructing a counterfactual scenario describing what would happen in the absence of bid-rigging is emphasized.

Secondly, technical and practical aspects of the use of the various damage estimation methods, including comparator-based, financial-analysis-based and market-structure-based methods are discussed. The description of each method is accompanied by examples of their use.

Finally, practical considerations related to the choice of a given method among the range of various methods available are discussed in the context of the availability of the relevant data and credibility of the underlying assumptions. 

 

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