What new theories, evidence, and policies have shaped health economics in the 21st century? Editors Mark Pauly, Thomas McGuire, and Pedro Pita Barros assemble the expertise of leading authorities in this survey of substantive issues. In 16 chapters they cover recent developments in health economics, from medical spending growth to the demand for health care, the markets for pharmaceutical products, the medical workforce, and equity in health and health care. Its global perspective, including an emphasis on low and middle-income countries, will result in the same high citations that made Volume 1 (2000) a foundational text. - Presents coherent summaries of major subjects and methodologies, marking important advances and revisions - Serves as a frequently used non-journal reference - Introduces non-economists to the best research in health economics

Providing a detailed and practical analysis of the entire scope of the law relating to vertical agreements, including the new general block exemption regulations and the Vertical Guidelines, this book is an indispensible tool for all practitioners active in the drafting or reviewing of vertical agreements.

Emissions trading systems have come to the fore as the most economically efficient mechanisms that can be employed to bring about an optimal greenhouse gas reduction goal. Even though much has been written about the advantages and disadvantages of these systems, one element of crucial importance and– emission allowance allocation and– has not been considered in adequate depth until the present study. Such an analysis takes on increased importance as it seems likely that market-based auctioning will become the default allocation method throughout the EU under a proposed amendment to the Emissions Trading System (ETS) established by Directive 2003/87/EC. Taking a law and economics approach and– that is, using a combined perspective of industrial economics and legal analysis and– this important book examines the potential for anticompetitive distortion that may result from auctioning emission allowances. Among the issues investigated in depth are the following: whether the current setup of the EU ETS fosters allocative efficiency or whether this allocative efficiency is hindered by legal impediments or constraints; whether EU competition law can serve to remedy anticompetitive effects stemming from Member State actions taken pursuant to Directive 2003/87/EC; which allocation formats are most desirable from an allocative efficiency and environmental effectiveness point of view; the importance of initial allocation and adjustment of out-of-equilibrium situations under the amended ETS; whether auctioning allowances serves the attainment of market equilibrium even in the continuing presence of and‘polluter havensand’; the effect of the ECJand’s so-called and‘joint application jurisprudenceand’ on the ETS; and the allocation of allowances from a state aid perspective. The book provides both a coherent typology of emission allowance allocation mechanisms and the main characteristics of the present emissions trading system, setting the gained insights into a broader perspective. It examines how various assignment mechanisms deal with issues such as price determination, allocative efficiency and environmental effectiveness. It considers how market-based allocation mechanisms compare with administrative allocation mechanisms, particularly those based on the widely applied grandfathering method. And perhaps most important and– and of especial value to practitioners and policymakers and– it identifies the auction design challenges that must be addressed by the Commission in its implementing regulation due by 30 June 2010.

Since the EC Block Exemption Regulation (BER) went into force in June 2000, companies are required to undertake a self-assessment of the possible consequences of their vertical agreements that is, of agreements that arise in a channel of distribution between firms at different levels of trade or industry, i.e., between a manufacturer and wholesaler, between a supplier and customer, or between a licensor of technology and his licensee. Such an assessment can be extremely complex. Although the European Commission has issued regulatory guidelines to facilitate the self-assessment process, there can be little doubt that the in-depth analysis and guidance provided in this book will be greatly welcomed by business people and their counsel. Economic Analyses of Vertical Agreements clarifies the steps, tests, determinations, and evaluations entailed in assessing vertical agreements, especially when an individual examination under Article 81 EC Treaty is required (as it is for all companies with more than a 30% market share in a relevant market). Among the terms and factors thoroughly explained, from the various pertinent points of view, are the following: vertical restraints and their components;exclusive and selective distribution agreements;channel strategies;single branding;free rider rationale; and,the European structured rule of reason in Article 81 EC Treaty The presentation is particularly notable for its wide-ranging discussion of types of vertical restraints and combinations of vertical restraints and how each is impacted by the new vertical agreement rules. The author also discusses the relevant case law of the EC Courts. Companies doing business in Europe and their legal and economic advisers will find here an absorbingly detailed overview of requirements and procedures, a clear analysis against which to measure strategic choices, and an enormously useful handbook to consult at every turn for expert guidance through the assessment of their vertical agreements.

The revised EC policy on the application of competition law to vertical agreements is one of the most important developments in EC anti-trust for many years. The block exemption regulation, which came into effect on 1 June 2000, and the accompanying policy changes are crucially important for companies doing business in the European Union. Whichever route a business chooses to get its products to market, it needs to understand the impact of the EC rules. This guide provides a comprehensive and practical commentary on the new rules. The work contains the full text of the block exemption regulation, accompanying guidelines and other relevant Commission notices. Issues covered include: background to EC competition law and its application to vertical agreements; in-depth analysis of the provisions of the block exemption regulation; examination of how the rules apply to exclusive distribution; and selective distribution, franchising and agency agreements. The authoritative and in-depth analysis of the guide will be invaluable to in-house counsel, business people and practitioners involved in or advising on the distribution of goods or services in the EU.