Damages equal the difference between actual outcomes and those in a constructed world without the violation. The construction requires assumptions about pricing, entry, output, and market structure.
Assumptions rather than data drive the result.
Alternative Names:
But For World|Counterfactual Analysis
Why it Matters?
Internally inconsistent counterfactuals are a productive challenge, since a but-for world assuming both lower prices and unchanged output may be economically implausible, and requiring the expert to specify how supply and demand would have adjusted exposes contradictions. The construction must also isolate the challenged conduct from other market changes, which becomes difficult over long conspiracy periods.
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Frequently asked questions
What is a productive challenge?
What becomes difficult over time?
