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European competition policy modernization: From notifications to legal exception

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  • Loss, Frederic
  • Malavolti-Grimal, Estelle
  • Verge, Thibaud
  • Berges-Sennou, Fabian

Abstract

Council Regulation (EC) 1/2003 came into force in May 2004 and replaced the mandatory notification of agreements by a regime of ex post monitoring. This paper shows that ex post monitoring is the optimal audit regime when the competition authority's probability of error is low. On the other hand, the notification system becomes optimal when the competition authority's probability of error is high. The paper also shows that block exemptions and black list (regimes of per se (il)legality) should be implemented when the agreements’ expected welfare impact is very high and very low, respectively.

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Bibliographic Info

Article provided by Elsevier in its journal European Economic Review.

Volume (Year): 52 (2008)
Issue (Month): 1 (January)
Pages: 77-98

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Handle: RePEc:eee:eecrev:v:52:y:2008:i:1:p:77-98

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References

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  1. Winand Emons, 2003. "Escalating Penalties for Repeat Offenders," Diskussionsschriften dp0315, Universitaet Bern, Departement Volkswirtschaft.
  2. Emons, Winand, 2002. "Subgame Perfect Punishment for Repeat Offenders," CEPR Discussion Papers 3667, C.E.P.R. Discussion Papers.
  3. Motta, Massimo & Polo, Michele, 2000. "Leniency Programs and Cartel Prosecution," CEPR Discussion Papers 2349, C.E.P.R. Discussion Papers.
  4. Petros C. MAVROIDIS & Damien J. NEVEN, 2000. "The Modernisation of EU Competition Policy : Making the Network Operate," Cahiers de Recherches Economiques du Département d'Econométrie et d'Economie politique (DEEP) 00.17, Université de Lausanne, Faculté des HEC, DEEP.
  5. Besanko, David & Spulber, Daniel F, 1989. "Antitrust Enforcement under Asymmetric Information," Economic Journal, Royal Economic Society, vol. 99(396), pages 408-25, June.
  6. Barros, Pedro Pita, 2003. "Looking behind the curtain--effects from modernization of European Union competition policy," European Economic Review, Elsevier, vol. 47(4), pages 613-624, August.
  7. Besanko, David & Spulber, Daniel F, 1993. "Contested Mergers and Equilibrium Antitrust Policy," Journal of Law, Economics and Organization, Oxford University Press, vol. 9(1), pages 1-29, April.
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Cited by:
  1. Andreea Cosnita & Jean-Philippe Tropeano, 2006. "On the Effective Design of the Efficiency Defence," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00113503, HAL.
  2. Cosnita-Langlais, Andreea & Tropeano, Jean-Philippe, 2012. "Do remedies affect the efficiency defense? An optimal merger-control analysis," International Journal of Industrial Organization, Elsevier, vol. 30(1), pages 58-66.
  3. repec:hal:journl:halshs-00113503 is not listed on IDEAS
  4. Ottaviani, Marco & Wickelgren, Abraham L., 2011. "Ex ante or ex post competition policy? A progress report," International Journal of Industrial Organization, Elsevier, vol. 29(3), pages 356-359, May.
  5. Christian Growitsch & Nicole Nulsch & Margarethe Rammerstorfer, 2012. "Preventing innovative cooperations: the legal exemptions unintended side effect," European Journal of Law and Economics, Springer, vol. 33(1), pages 1-22, February.
  6. Will, Birgit E. & Schmidtchen, Dieter, 2008. "Fighting cartels: some economics of council regulation (EC) 1/2003," CSLE Discussion Paper Series 2008-02, Saarland University, CSLE - Center for the Study of Law and Economics.
  7. Andreea Cosnita-Langlais & Jean-Philippe Tropeano, 2013. "Ex post or ex ante? On the optimal timing of merger control," EconomiX Working Papers 2013-22, University of Paris West - Nanterre la Défense, EconomiX.
  8. Frédéric Loss & Estelle Malavolti-Grimal & Thibaud Vergé, 2007. "Comment décentraliser la politique européenne de concurrence ?," Économie et Prévision, Programme National Persée, vol. 178(2), pages 115-124.

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