We use publicly available price data from the German cement industry to estimate the cartelinduced
price increase. We apply two different comparator-based approaches – the ‘beforeand-
after’ approach and the ‘difference-in-differences’ approach – and especially study the
impact of various assumptions on the transition period from the cartel period to the non-cartel
period on the overcharge estimate. We find that the cement cartel led to price overcharges in a
range from 20.3 to 26.5 percent depending on model approach and model assumptions.
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