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The econometrics of dating anti-competitive effects with application to excessive pricing
Thesis (MCom)--Stellenbosch University, 2021.
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| Format: | Thesis |
| Language: | en_ZA |
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Stellenbosch : Stellenbosch University
2021
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| _version_ | 1867613919016648704 |
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| access_status_str | Open Access |
| author | Bredenkamp, Annette Corlie |
| author2 | Boshoff, Willem H. |
| author_browse | Boshoff, Willem H. Bredenkamp, Annette Corlie |
| author_facet | Boshoff, Willem H. Bredenkamp, Annette Corlie |
| author_sort | Bredenkamp, Annette Corlie |
| collection | Thesis |
| dc_rights_str_mv | Stellenbosch University |
| description | Thesis (MCom)--Stellenbosch University, 2021. |
| format | Thesis |
| id | oai:scholar.sun.ac.za:10019.1/109869 |
| institution | Stellenbosch University (South Africa) |
| language | en_ZA |
| last_indexed | 2026-06-10T12:43:47.401Z |
| license_str | Other — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from SUNScholar — Stellenbosch University Repository |
| publishDate | 2021 |
| publishDateRange | 2021 |
| publishDateSort | 2021 |
| publisher | Stellenbosch : Stellenbosch University |
| publisherStr | Stellenbosch : Stellenbosch University |
| record_format | dspace |
| source_str | SUNScholar — Stellenbosch University Repository |
| spelling | oai:scholar.sun.ac.za:10019.1/109869 The econometrics of dating anti-competitive effects with application to excessive pricing Bredenkamp, Annette Corlie Boshoff, Willem H. Stellenbosch University. Faculty of Economic and Management Sciences. Dept. of Economics. Competition, Unfair -- Economic aspects Markup -- Economic aspects Damages -- Statistical methods Lost profits damages -- Statistical methods Markov processes UCTD Thesis (MCom)--Stellenbosch University, 2021. ENGLISH SUMMARY : Anti-competitive behaviour in a market is associated with related effects that may not always be captured in traditional approaches to locating damages. Conventionally, to determine when anti-competitive behaviour have started, prevailed, and ended, analysts rely on the formal documentary evidence presented in the case. However, the associated effects may have lasted before and/or after the formally established liability date. Such effects are central to proper damage estimation and may even have an impact on establishing the existence of conduct in the first place. With the focus on excessive pricing, this study firstly analyses the various benchmarks used locally and abroad to determine excessive pricing and finds that such benchmarking is done non-econometrically despite the need to properly control for demand and supply factors. This study then applies what is known from collusion literature to the dating of excessive pricing. Collusion literature shows that there is a problem with pre- and post-effects, and it is often necessary to differentiate between formal and effective dates. Furthermore, this study examines current policy approaches to determining anti-competitive dates and finds that precise dating is less important in pre-Covid-19 cases. However, there is a problem with dating Covid-19 excessive pricing cases because of the relevant regulations specifying the fixed 3-month comparative period. Econometric methods are particularly important in this regard and will be for excessive pricing cases to come. This study supplemented the traditional counterfactual methodology with a structural break test and a Markov switching-regime test to properly determine the effective dates of the case at hand. The application is to the Foskor excessive pricing case. This quantitative approach shows that, although the actual effect may precede or follow after the formal identified dates, wrongly specifying the relevant periods leads to a significant underestimation of the damages in the case at hand. AFRIKAANSE OPSOMMING : Teenmededingende gedrag in 'n mark hou verband met effekte wat nie altyd vasgevang kan word in die tradisionele benadering tot die opsporing van skadevergoeding nie. Om vas te stel wanneer teenmededingende gedrag ’n aanvang geneem het, voortgeduur het en beëindig is, word gewoonlik van die formele dokumentêre getuienis, wat in die saak na vore tree, gebruik gemaak. Die gepaardgaande effekte kan egter voor en/of na die formele vasgestelde aanspreeklikheidsdatum voorkom. Sulke effekte is egter noodsaaklik in die korrekte beraming van skade en kan selfs 'n invloed hê op die bepaling van die teenmededingende gedrag in die eerste plek. Met die fokus op buitensporige prysbepaling, ontleed hierdie studie eerstens die verskillende maatstawwe wat plaaslik en in die buiteland gebruik word om buitensporige pryse vas te stel, en bevind dat sulke maatstawwe hoofsaaklik nie-ekonometries van aard is, ondanks die behoefte om vraag- en aanbodfaktore in ag te neem. Hierdie studie maak dus op die samespanningsliteratuur staat om die ekonometriese datering van buitensporige pryse te bestudeer. Die samespanningsliteratuur toon dat daar 'n probleem is met voor- en na-effekte, en dat dit dikwels nodig is om te onderskei tussen formele en effektiewe datums. Verder ondersoek hierdie studie huidige beleidsbenaderings tot die bepaling van mededingingsdatums en vind dat presiese datering minder belangrik is in sake voor Covid-19. Daar is egter 'n probleem met die datering van sake rondom buitensporige pryse wat met die Covid-19-pandemie verband hou, aangesien die tersaaklike regulasies ’n vaste vergelykingsperiode van drie maande spesifiseer. Ekonometriese metodes is veral belangrik in hierdie verband en vir toekomstige buitensporige prysgevalle. Hierdie studie het die tradisionele kontra-feitelike metodologie met 'n strukturele-breek-toets en 'n Markov-omskakelingstoets aangevul om die effektiewe datums van die betrokke saak te bepaal. Dit is toegepas op die Foskor-saak vir buitensporige pryse. Hierdie kwantitatiewe benadering toon dat, aangesien die werklike effek die formeel geïdentifiseerde datums vooraf kan gaan of kan volg, die verkeerde effektiewe tydperk tot 'n aansienlike onderskatting van die relevante skadevergoeding kan lei. Masters 2021-02-24T05:39:44Z 2021-04-21T14:29:37Z 2021-02-24T05:39:44Z 2021-04-21T14:29:37Z 2021-03 Thesis http://hdl.handle.net/10019.1/109869 en_ZA Stellenbosch University [67] pages ; illustrations, includes annexure application/pdf Stellenbosch : Stellenbosch University |
| spellingShingle | Competition, Unfair -- Economic aspects Markup -- Economic aspects Damages -- Statistical methods Lost profits damages -- Statistical methods Markov processes UCTD Bredenkamp, Annette Corlie The econometrics of dating anti-competitive effects with application to excessive pricing |
| title | The econometrics of dating anti-competitive effects with application to excessive pricing |
| title_full | The econometrics of dating anti-competitive effects with application to excessive pricing |
| title_fullStr | The econometrics of dating anti-competitive effects with application to excessive pricing |
| title_full_unstemmed | The econometrics of dating anti-competitive effects with application to excessive pricing |
| title_short | The econometrics of dating anti-competitive effects with application to excessive pricing |
| title_sort | econometrics of dating anti competitive effects with application to excessive pricing |
| topic | Competition, Unfair -- Economic aspects Markup -- Economic aspects Damages -- Statistical methods Lost profits damages -- Statistical methods Markov processes UCTD |
| url | http://hdl.handle.net/10019.1/109869 |
| work_keys_str_mv | AT bredenkampannettecorlie theeconometricsofdatinganticompetitiveeffectswithapplicationtoexcessivepricing AT bredenkampannettecorlie econometricsofdatinganticompetitiveeffectswithapplicationtoexcessivepricing |