The Italian Experience in the Enforcement of Excessive Prices: A Calibrated Approach

Enforcement of excessive prices is one of the most controversial issues in competition law and economics. Arguments against intervening include the risk of distorting investment decisions, the complexity of the economic analysis with the consequential legal uncertainty, and the high monitoring cost for the competition authorities. Yet, the experience of the Autorità Garante della Concorrenza e del Mercato (“AGCM”) shows that a calibrated approach can help to avoid exploitation, fill regulat