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European methodology of analysis vertical restraints under rule of reason in context of cooperative relation specific investments

European methodology of analysis vertical restraints under rule of reason in context of cooperative relation specific investments

Journal of Institutional studies, , Vol. 7 (no. 3),

The problem of underinvestment in specific assets is a key issue in new institutional economics, especially in case of cooperative relation specific investments. It can be solved due to vertical restraints, as an alternative way of vertical integration to transfer control to partner, who makes relation specific investments. The type of relationspecific investments called «cooperative» investments (or cross investments) was nearly absent in economic analysis up to the very end of the twentieth century despite of the fact that such investments are widespread. It led to the absence of analysis relation specific investments in official regulation documents. At the same time, different types of relation specific investments can be characterized by different degree of riskiness and need special regulations of vertical agreements. In the paper author makes an attempt to analyze the European methodology of assessment vertical restraints under rule of reason focusing on the type of relation specific investments. It makes possible to improve analysis of vertical restraint in Russian antitrust.


Keywords: relation-specific investments; cooperative relation-specific investments; vertical restraints; antitrust; rule of reason; Guidelines on vertical restraints.

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