Le contrôle juridictionnel sur les décisions des autorités de concurrence présente une intensité fortement changeante. Cela a engendré un effort de systématisation théorique et a demandé la solution d’une série de questions médianes. La nature technique de la matière économique a en effet justifié un modèle institutionnel spécifique (celui d’autorité administrative indépendante), un certain type de norme (par concepts juridiques indéterminés), une forme particulière de pouvoir discrétionnaire (qu’on peut définir mixte : au même temps pur et technique). Sur la base de tous ces éléments, on a individué l’ampleur idéale du contrôle. Le premier élément, le caractère indépendant des autorités, impose de se questionner sur les limites entre administration en formes contentieuses et juridiction, mais aussi sur les limites entre administration et politique. Le deuxième élément, relatif à la structure de la norme, a engendré une réflexion sur l’exigence que l’administration puisse intégrer la prescription légale, à l’acte de son application, de façon qu’elle participe en quelque sorte à la définition des conditions d’exercice de son propre pouvoir. Le troisième des éléments rappelés, la nature mixte du pouvoir discrétionnaire, a permis de redéfinir les raisons de l’analogie du contrôle juridictionnel sur l’opportunité et de celui sur la pluralité des solutions techniques . L’instrument utilisé pour mener cette analyse est le principe de proportionnalité, instrument d’action de l’administration mais aussi instrument de contrôle du juge, qui a permis de relever l’affinité entre les formes de l’action administrative et forme du contrôle qui sont à l’origine des incertitudes relevées. / Judicial review of antitrust authorities’ decisions shows as extremely variable. This justified an effort of theoretical explanation and demanded the elucidation of several intermediate questions. The technical nature of the economic subject accounts for a specific institutional model (the independent agencies one), a given type of norms (through standards and indeterminate concepts), a peculiar form of discretionary power (defined mixt: both pure an technical). Considering all these elements, we defined the ideal reach of judicial review. The first element, the independent nature of authorities, dictates to wonder on the boundaries between confrontational administration and trial, but also on the boundaries between administration and politics. The second element, related to the structure of the norm, provokes a reflection on the necessity that the administration completes the legal prescription while applying it, somehow participating to the definition of her own power’s legitimacy requirements. The third element recalled, the mixt nature of discretionary power, led to redefine the reasons of the analogy between jurisdictional control on opportunity and on technical administrative evaluations. The instrument used to carry out the described analysis is the principle of proportionality, tool of administrative action but also instrument of judicial review, that permitted to reveal the affinity between administrative and jurisdictional paradigms that founds the observed uncertainties.

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Die Arbeit untersucht das Problem der Marktmanipulation in komplexen Märkten aus kartell- und kapitalmarktrechtlicher Perspektive am Beispiel des deutschen Großhandelsmarktes für Strom (European Energy Exchange, EEX) mittels einer ökonomischen und rechtlichen Analyse. Es wird aufgezeigt, dass die Behörden bei der Anwendung des Manipulationstatbestandes auf mögliche Verstöße häufig vor Nachweisproblemen stehen, die im Ergebnis zu einer fehlenden Durchsetzung von Sanktionen trotz Tatbestandsmäßigkeit führen können. Dadurch kommt es zu Lücken in der Rechtsdurchsetzung, die den Abschreckungseffekt der Verbotstatbestände erheblich mindern. Zentrale These der Arbeit ist daher, dass das bestehende Sanktionensystem derart weiterentwickelt werden muss, dass es Rückwirkungen bereits auf die Tatbestandsebene entfaltet, die einen Verstoß gegen das Manipulationsverbot schon aus der ex-ante Perspektive unattraktiv machen. Im ersten Teil werden das Marktumfeld sowie der bestehende Rechtsrahmen untersucht und Manipulationsanreize für die Marktteilnehmer sowie das Fehlen effektiver Instrumente zur Rechtsdurchsetzung festgestellt. Die Sektoruntersuchungen der Europäischen Kommission sowie des Bundeskartellamtes bestätigen diesen Befund. Der zweite Teil setzt auf die positive Analyse auf und schlägt Regulierungsinstrumente zur Änderung des Anreizsystems vor. Dabei ist der Fokus anstelle stetig steigender Bußgelder auf Maßnahmen zur Steigerung der Entdeckungswahrscheinlichkeit zu legen. Es wird vorgeschlagen, das bestehende Kronzeugenprogramm auf Manipulationsfälle auszudehnen und mit einem Belohnungssystem für Whistleblower zu kombinieren, um vermehrt Verstöße aufzudecken und den Abschreckungseffekt der Manipulationstatbestände zu erhöhen. Begleitend ist eine effektive Koordinierung der Maßnahmen staatlicher und privater Durchsetzung des Kartellrechts geboten, um Durchsetzungsdefizite zu beseitigen. / The work examines the problem of market manipulation in complex markets from an antitrust and capital market law perspective, using the example of the German wholesale market for electricity (European Energy Exchange, EEX) and applying the methodology of the economic analysis of law. It is shown that authorities applying the ban of market manipulations on potential infringements regularly face problems of proving a breach of the law which may result in a lack of enforcement of sanctions. Considerable gaps in enforcement result that may reduce the deterrent effect of the prohibition significantly. The central thesis of this work is therefore, that an evolution of the existing system of sanctions is required such that it exerts repercussions on market participants´ reasoning that make an offence unattractive already from the ex-ante perspective. In the first section, the market conditions as well as the existing legal framework are examined. As a result of this analysis, incentives for manipulation of the market by market participants and the lack of effective instruments for law enforcement are found. The sector inquiries of both, the European Commission and the German Federal Cartel Office confirm this finding. The second section of the work builds upon the positive analysis and proposes regulatory instruments to change the incentive scheme in the market. The focus is placed on measures that increase the probability of detection and punishment instead of the dogma of consistently increasing fines. The central proposal extends the existing leniency program for cartels on manipulation cases and combines it with a reward system for whistleblowers. This approach proposes an increased probability of detection of market manipulations and thereby boosts the deterrent effect of antitrust law. Also, the effective coordination of public and private antitrust enforcement efforts is a necessary accompanying measure to remedy deficiencies of law enforcement.

O problema que o presente estudo visa a esmiuçar é se a aplicação das normas de defesa da concorrência deve ou não ser flexibilizada em tempos de crises econômicas e financeiras. Mais especificamente, propõe-se a investigar se, durante crises, as autoridades concorrenciais devem ou não adotar uma abordagem mais leniente com relação aos princípios tradicionais e fundamentais do antitruste, (i) aprovando concentrações excessivas a partir de uma aplicação leniente da Failing Firm Defense, e/ou (ii) permitindo a coordenação de agentes econômicos mediante a formação de acordos colusivos sob os argumentos dos cartéis de crise. O Capítulo 1 apresenta uma breve descrição acerca da evolução do Direito Concorrencial nos Estados Unidos, União Europeia e Brasil, de forma a se verificar que a política antitruste é influenciada pelas condições econômicas vigentes em cada país. Ademais, tal discussão serve para contextualizar a análise conduzida ao longo do trabalho. Posteriormente, fez-se imprescindível entender o que são as crises econômicas e financeiras, buscando-se definições doutrinárias e mostrar que tais fenômenos ocorrem frequentemente no capitalismo. Finaliza-se tal capítulo com uma sucinta análise de duas das principais crises da história do capitalismo moderno, é saber, a Crise de 1929 e a recente crise do sub-prime. Já o Capítulo 3 trata efetivamente da relação entre o Direito Concorrencial e as crises econômicas e financeiras, tendo-se analisado a suspensão do antitruste nos Estados Unidos após a Crise de 1929, e investigado, por meio da análise de doutrina, legislação e jurisprudência estrangeiras, a necessidade ou não de se suavizar a aplicação das normas de defesa da concorrência em tempos de crise econômica, tanto no que diz respeito ao controle de estruturas, como ao controle de condutas. O Capítulo 4 destina-se a tratar da realidade brasileira, verificando, diante dos resultados encontrados ao longo do estudo, bem como das particularidades do ordenamento jurídico pátrio e da jurisprudência dos órgãos de defesa da concorrência, em que medida os resultados encontrados se aplicam no Brasil. Por fim, apresentam-se as conclusões. / The purpose of this dissertation is to assess whether antitrust enforcement should be mitigated in times of economic and financial crisis. Specifically, it is investigated if, during crisis, competition authorities should adopt a more lenient approach regarding the traditional and fundamental principles of Antitrust Law by (i) approving problematic mergers by softening the Failing Firm Defense criteria, and/or (ii) allowing competitors to coordinate their activities through collusive agreements under the arguments of crisis cartels. Chapter 1 provides a brief description about the development of Competition Law in the United States, European Union and Brazil. The purpose of such analysis is to verify that antitrust policy is influenced by the economic conditions in force in each country. Besides, the discussion is useful to contextualize further analysis carried out throughout the dissertation. After that, it was indispensable to understand what are economic and financial crisis and to show that such situations occur frequently in a capitalist economy. This chapter is concluded with a brief analysis of two of the main crisis in the history of modern capitalism: the Crash of 1929 and the recent subprime crisis. Chapter 3 address the relationship between Antitrust Law and economic and financial crisis. Firstly, the American experience of suspending Competition Law after the 1929 Crash was analyzed. Additionally, the dissertation reviewed theoretical arguments and foreign laws and case law in order to assess whether antitrust (merger control and fight against anticompetitive practices) should be mitigated in times of economic and financial crisis. Chapter 4 deals with the Brazilian reality, assessing if the results found throughout the dissertation are applicable, considering the peculiarities of the national legislation and the case law of the Brazilian antitrust authorities. At the end, the conclusions are presented.

Submitted by JOSIANE SANTOS DE OLIVEIRA (josianeso) on 2018-10-10T13:37:40Z No. of bitstreams: 1 Danilo Brum de Magalhães Júnior_.pdf: 1609183 bytes, checksum: 4c8b9520285e0268159f9cc40ce19774 (MD5) / Made available in DSpace on 2018-10-10T13:37:40Z (GMT). No. of bitstreams: 1 Danilo Brum de Magalhães Júnior_.pdf: 1609183 bytes, checksum: 4c8b9520285e0268159f9cc40ce19774 (MD5) Previous issue date: 2018-06-25 / Nenhuma / A presente dissertação tem como objetivo geral a investigação da adequação da arbitragem como método para a resolução de disputas privadas que envolvam matéria concorrencial, tendo como pano de fundo a legislação brasileira. Isto porque, apesar das normas de Direito concorrencial serem imperativas, terem caráter eminentemente público e serem comumente associadas à noção de ordem pública, controvérsias envolvendo Direito concorrencial podem se originar de relações jurídicas privadas, envolvendo Direitos patrimoniais disponíveis, aptas a serem resolvidas pela arbitragem. Neste contexto, de forma mais específica, buscou-se na presente dissertação: (a) analisar o que a legislação e a doutrina dizem sobre o instituto da arbitragem e sobre o Direito concorrencial; (b) analisar a possibilidade jurídica da utilização do procedimento arbitral (arbitrabilidade) como alternativa para resolução de conflitos privados que envolvam matéria concorrencial no Brasil; (c) analisar a possibilidade de aplicação das normas de Direito concorrencial brasileira pelos árbitros; e (d) investigar as situações em que a arbitragem pode ser utilizada para solucionar disputas privadas que envolvam matéria concorrencial no Direito brasileiro. Como conclusão, defende-se que, dentro de certos requisitos abordados no trabalho, a arbitragem é um instrumento juridicamente adequado para resolução de disputas privadas que envolvam matéria concorrencial, tendo o árbitro um dever de aplicar o Direito Concorrencial na sua integralidade, ou seja, dentro da sistemática da Lei 12.529/11. Ademais, será defendido que, de modo geral, procedimentos arbitrais envolvendo matéria concorrencial se inserem em um contexto de private enforcement do Direito Concorrencial, embora haja excepcionalmente um apertado espaço para utilização no public enforcement, o que vem sendo incentivado pelo CADE em casos recentes. Dentro deste contexto, a esfera de competência do árbitro seria adstrita à determinação de consequências civis relevantes para aplicação do direito concorrencial, o que não se confunde com a atuação administrativa do CADE na proteção da concorrência como direito difuso. / The purpose of this dissertation is to investigate the adequacy of arbitration as a method for resolving private disputes involving antitrust law, based on Brazilian Law. This is because, despite Brazilian antitrust law having mandatory rules, being eminently of a public policy (ordre publique) nature, controversies involving competitive law disputes involving competition law may originate from private legal relationships, involving available and patrimonial rights, apt to be resolved by arbitration. In this context, in a more specific way, we sought in this dissertation: (a) to analyze what the legislation and the doctrine say about the institute of the arbitration and on the Competition Law; (b) to analyze the legal possibility of using the arbitration procedure (arbitrability) as an alternative method for resolving private disputes involving antitrust law in Brazil; (c) analyze the possibility of applying the Brazilian antitrust rules by the arbitrators; and (d) investigate situations which the arbitration should be used to resolve private disputes involving antitrust matters according to Brazilian law. As a conclusion, it is argued that, under certain circumstances, arbitration is a legally adequate instrument for resolving private disputes involving antitrust matters, having the arbitrator a duty to apply the Antitrust Law in its entirety, according to the framework of Law 12.529/11. In general, arbitration proceedings involving antitrust matters fall within a context of private enforcement of antitrust law, although there is a limited space for use in public enforcement, which has been encouraged by CADE in recent cases. Therefore, the jurisdiction of the arbitrator would be determined by the determination of civil consequences relevant to the application of the antitrust law, which should not be confused with CADE's administrative performance in the protection of competition as a diffuse right.

Made available in DSpace on 2016-04-26T20:20:25Z (GMT). No. of bitstreams: 1 Eduardo Molan Gaban.pdf: 2714425 bytes, checksum: 569822a6120b1eec4b12985febcbe9ac (MD5) Previous issue date: 2011-09-02 / The paper refers to the elaboration of a hermeneutic line of investigation for the postal monopolies, aiming to demonstrate its incompatibility with the 1988 Federal Constitution, through a multidisciplinary approach grounded in the disciplines of constitutional and antitrust law. Through an optical analysis of the possible effects to society, the question of whether Brazil should maintain its legal monopoly within the postal services was discussed; more specifically, would the 1988 Constitution have approved the infraconsitutional legislation (which constitutes the legal basis for the postal monopoly in Brazil) recognizing their compatibility/harmonization with the constitutional principles of free economic enterprise and free competition, which structure the current economic order. A comparative study was developed on the US and EU experiences, which contributed to better evaluate the arguments and the grounds underlying the Brazilian postal monopoly. Therefore, good propositions emerged to improve the Brazilian model for the postal services. It was concluded that the monopoly model, used by State owned companies, is not the ideal model for the postal services. In Brazil s specific case, it is not compatible with the 1988 Federal Constitution. It would, therefore, not be possible to harmonize the previous legislation, which instituted the legal monopoly (Legal Decree n. 509/1969 and Law n. 6538/1978) / O presente trabalho refere-se à elaboração de proposta de linha hermenêutica para o monopólio postal com a finalidade de demonstrar sua incompatibilidade com a Constituição Federal de 1988, por intermédio de abordagem multidisciplinar embasada nas disciplinas do direito constitucional e do direito antitruste. Buscou-se analisar pela ótica dos efeitos à sociedade, se, de modo geral, deveria o Brasil manter o modelo de monopólio legal operado por empresa estatal (ECT) para os serviços postais. De modo particular, foi analizado se teria a Constituição de 1988 recepcionado a legislação infraconstitucional anterior (que constitui base jurídica para o monopólio postal no Brasil), reconhecendo sua compatibilidade/harmonização com os princípios constitucionais da livre iniciativa e livre concorrência que estruturam a ordem econômica vigente. Foi realizado um estudo comparado das experiências norte-americana e européia, a partir do que foi possível melhor avaliar os fundamentos econômicos e jurídicos subjacentes ao caso do monopólio postal brasileiro. A partir desse estudo, foi possível elaborar propostas positivas para aprimorar o modelo brasileiro de serviços postais. Em síntese, concluiu-se que o modelo de monopólio legal exercido por empresa estatal não é o mais indicado para os serviços postais, sendo que, no caso do Brasil, não seria compatível com a Constituição Federal de 1988, razão pela qual, não seria possível harmonizar a legislação anterior, que instituíra o monopólio legal, com a Constituição de 1988

The aim of the thesis is to examine whether the prohibition of overcompensation in the Antitrust Damages Directive is compatible with the EU legal and normative framework. To this end, the analysis is carried out on two levels. First, the rationale for damages in the selected jurisdictions (England, France and Germany) and in the EU is examined to test the main underpinning justification for the prohibition of overcompensation in the Antitrust Damages Directive, i.e. the 'European legal tradition argument'. Second, the thesis addresses broader constitutional implications that underpin the debate on the desirability of the pursuit to prohibit overcompensation in the EU. These entail questions pertaining to the adoption of such measures and, thus, exploring whether the EU has the legitimacy to legislate and the related question of competence and the choice of the appropriate legal basis. The argument to be advanced in this thesis is that the aim of achieving a sufficient level of deterrence with awarding damages for EU competition law infringements stems from the very conceptual basis in which the right to damages is grounded - the principle of effective judicial protection and the principle of effectiveness. Thus, as the analysis reveals, the prohibition of overcompensation is inconsistent with the EU legal framework, since it has potential to jeopardise the deterrent or dissuasive function of antitrust damages actions. The prohibition of overcompensation has significantly contributed to the business-biased gist of the Directive, and thus to breaking the link between the rationale for the right to damages for EU competition law infringements, the legal basis and the content of the Directive. The thesis ultimately argues that the Directive's prohibition is incompatible with the principles of conferral, subsidiarity and proportionality, and to a considerable extent inconsistent with the EU's legal and normative framework.

A presente pesquisa objetiva analisar os principais aspectos relacionados ao tema de danos em cartel: sobrepreço, efeito repasse (pass-on) e multa ótima. Com o aumento de políticas de combate a cartéis, pelo sério caráter lesivo à concorrência e à sociedade, intensificaram-se os esforços para estimar o impacto econômico no bem-estar provocado por tais condutas. O estudo confirma que a principal medida de dano econômico do cartel é o sobrepreço, ainda que os demais fatores, como o repasse (pass-on) e o efeito perda de vendas também devam ser considerados na mensuração do dano privado. Metodologias para o cálculo destes três componentes foram mapeadas, revelando que as técnicas disponíveis não são complexas, até fáceis de serem aplicadas, quando se tem amplo acesso a dados. Como avaliação empírica, apresenta-se o caso inédito do cartel dos compressores, sobre danos causados por tão nociva prática, comprovando-se que os valores de sobrepreço calculado estão em linha com a literatura. Por fim, a tese apresenta o histórico de multas impostas por autoridades, em casos de cartel, em diversas jurisdições, e questiona a efetividade dos montantes aplicados para devida dissuasão ou restabelecimento do bem-estar à sociedade. Análise de casos condenados pelo CADE recentemente mostram que as multas não têm sido suficientes para impor dissuasão, recomendando-se o uso de parâmetros que tragam racionalidade econômica e desestimulem as práticas anticompetitivas. / The present research had the aim of analyzing the main aspects related to cartel damages: overcharge, pass-on effect and optimal fine. With the growth of anti-cartel enforcement efforts and given the detrimental nature of conduct, efforts to estimate the economic impact on the welfare have increased. The study shows that the main measure of economic damage of the cartel is the overcharge, although other factors such as the pass-on effect and the output effect cannot be neglected in the calculation of private damage. Methodologies for these three components were mapped, revealing that the available techniques are not complex and even easy to apply when data is available. An empirical evaluation is presented using an unprecedented in the Brazilian market \"compressors cartel case\", showing an overcharge in line with the literature. Finally, the thesis presents the history of fines imposed by authorities in cartel cases in several jurisdictions and questions the effectiveness of the amounts applied for a proper deterrence or restoration of welfare to society. Case studies condemned by CADE recently show that fines have not been sufficient to impose deterrence, recommending the use of parameters that bring economic rationality and discourage anticompetitive practices.

As profundas mudanças trazidas pela sociedade da informação, em especial o advento da Internet, tiveram enorme impacto sobre as interações humanas, modificando a forma como as pessoas se relacionam e consomem bens e serviços. Nesse contexto, surgem inúmeros serviços prestados por empresas baseadas na rede mundial de computadores. Características destes novos mercados como o uso de plataformas de múltiplos lados, o uso intensivo de novas tecnologias, a presença de efeitos ou externalidades de rede, a interligação entre serviços distintos, o oferecimento de serviços de forma gratuita ao consumidor e o entrelaçamento entre os diversos serviços prestados, desafiam conceitos tradicionais do direito concorrencial como mercado relevante, poder de mercado e venda casada. Faz-se necessária, assim, a adaptação da metodologia de análise antitruste, por meio da analise dos fundamentos teóricos que dão suporte à sua aplicação, considerando-se as particularidades presentes nesses mercados. O presente estudo tem por objetivo analisar o controle de condutas nesses novos setores de Internet por meio da análise das particularidades econômicas desses novos setores e as consequências desse enfoque sobre a análise antitruste. / The deep changes brought by the information society, especially the rising of the Internet, caused an enormous impact over human interactions, changing the way people relate and the way people consume goods and services. As a consequence of this new reality, services provided by web based companies emerged. Some characteristics of those new markets, such as the use of multiple side platforms, the intensive use of new technologies, the existence of network effects or network externalities, the connection of distinct services, the offer of zero price services and the deep connection between the services, challenge traditional concepts of antitrust law, like relevant market, market power and tying. Therefore, traditional antitrust analysis and its theoretical foundations must be reviewed, considering the particularities of those markets. The main objective of this study is to analyze the conduct control on these new Internet sectors, considering its economic particularities and the consequences of these view on antitrust analysis.