Market Oversight Games : Inaugural Lecture Delivered Upon the Appointment to the Chair of Competition Economics and Regulation at the University of Amsterdam on Friday, 1 October 2010

Market oversight games Antitrust Avoidance by IPO What Are Market Oversight Games? Some Examples in Real Time Matching Pennies Market Oversight Games Complex A Lesson from Pac-Man Dodging Cartel Detection How the Lion Gets the Christian A Look inside the Cartel: The Lysine Tapes A Look inside the Agency: The NMa Tapes Leniency Games Antitrust Authorities Play Ms. Pac-Man Proves Creativity Theorem Three Corollaries with an Example Each Epilogue: The De-nationalization of Money by Electronic Payment Dankwoord Notes Annotation Big business plays cat & mouse with market regulators. Market participants try to avoid the competitive pressures that the regulators are working to keep up. Only if the latter play these games at least as cleverly as the former can we reap all the fruits of competition. A case in point is the European Commission's ongoing struggle with VISA and MasterCard. Another example is the Dutch telecom regulator OPTA's pursuit of the local cable monopolies in The Netherlands. The Dutch Central Bank DNB vs. DSB Bank is a strategic market oversight game as well. In his inaugural lecture as Professor of Competition Economics and Regulation, Maarten Pieter Schinkel draws on game theory, artificial intelligence research on Pac-Man, and forensic evidence obtained through undercover surveillance to develop optimal market oversight strategies. He argues that market supervisors should have strong discretionary authority to be able to creatively pursue continuously changing business strategies with an evasive edge. This . finding has implications for the interpretation of the principle of legal certainty. As illustrations, Schinkel outlines several possible evasion strategies in recent competition cases. He gives examples of strong counter-play by the US Department of Justice, the European Commission, the UK Office of Fair Trading and the Netherland Competition Authority NMa. Schinkel warns against .flying blind on leniency instruments and complaints made by rivals. He points out how market supervisors can become a pawn in the game between powerful companies. This title can be previewed in Google Books - http://books.google.com/books?vid=ISBN9789056296636 In zijn inaugurele rede tot hoogleraar Competition Economics and Regulation, vestigt Maarten Pieter Schinkel de aandacht op hoe de markttoezichthouders kunnen verworden tot een pion in het spel tussen de machtige bedrijven. Aan de hand van voorbeelden uit de speltheorie, kunstmatige intelligentie, Pac-Man en het forensisch bewijs verkregen door middel van undercover surveillance, stelt Schinkel dat het weldegelijk mogelijk is een onafhankelijk markttoezicht te ontwikkelen. In zijn rede stelt hij dat de markttoezichthouders een sterke mate van bevoegdheden moeten hebben om creatief om te kunnen Antitrust Avoidance by IPO What Are Market Oversight Games? Some Examples in Real Time Points of Departure for Analysis Matching Pennies Market Oversight Games Complex A Lesson from Pac-Man Dodging Cartel Detection How the Lion Gets the Christian A Look inside the Cartel: The Lysine Tapes A Look inside the Agency: The NMa Tapes Leniency Games Antitrust Authorities Play Ms. Pac-Man Proves Creativity Theorem Three Corollaries with an Example Each Commitment to Do Good Epilogue: The De-nationalization of Money by Electronic Payment Dankwoord Notes

"On Latin Adverbs was praised for its systematic and lucid application of clear and well-defined concepts to a notoriously difficult chapter of Latin grammar." Latomus

'This is inaugural lecture 378, published in this series of the University of Amsterdam'--T.p. verso.