This is the warning Copenhagen Economics issues to all parties in the damage claim cases following the Swedish asphalt cartel in the leading Swedish business paper “Dagens Industri”. In Denmark, a cartel damages case was recently settled and we are concerned that the lack of economic evidence in the Danish case may also surface in the Swedish damage claims proceedings. Without economic support the parties expose themselves to unnecessary large risks. To assess the damage, the actual price paid should be compared with the price that would have prevailed in the absence of the cartel. To estimate this price is no trivial matter. But far from impossible. In the Danish case, one claim was that the price before the cartel was the relevant comparison price. Another, that the price after the cartel was the correct non-collusive price. Economic theory cannot decide which of these claims are true. Thus the court was left to make an arbitrary decision. There are however several economic techniques that could have been used to assess the claims. Using them could have changed the outcome. In order not to face the same coin-tossing scenario in the Swedish proceedings, we advise all parties in the damage claims cases to do their homework thoroughly, for the sake of both the consumers and the shareholders. Further information: Dr Claus Kastberg Nielsen