No smoke without fire? The Tobacco appeals
Agenda

No smoke without fire? The Tobacco appeals

In 2010 the UK Office of Fair Trading fined two tobacco manufacturers and a number of major UK retailers for anti-competitive agreements relating to the retail prices of cigarettes. One manufacturer and five retailers appealed against the OFT’s Decision. In December 2011 they won their case. What was the economic theory of harm at the heart of the case, and why did the Competition Appeal Tribunal rule against the OFT?

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