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Keeping Both Eyes Wide Open: The Life of a Competition Authority Among Sectoral Regulators

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  • Hoernig, Steffen
  • Nilssen, Tore
  • Pita Barros, Pedro Luis

Abstract

Competition authorities must pay attention to many industries simultaneously. Sectoral regulators concentrate on their own industry. Often both types of authority may intervene in specific industries and there is an overlap of jurisdictions. We show how a competition authority’s resource allocation is affected by its relationships with sectoral regulators and their biases. If agencies collaborate (compete), the competition authority spends more effort on the industry with the more (less) consumer-biased sectoral regulator. The competition authority spends budget increases on the industry whose regulator reacts less to more effort. The socially optimal budget corrects for distortions due to regulatory bias, but only downwards.

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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 6861.

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Date of creation: Jun 2008
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Handle: RePEc:cpr:ceprdp:6861

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Keywords: Competition authority; Regulatory bias; Sectoral regulators;

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  1. Farrell, Joseph & Katz, Michael L, 2006. "The Economics of Welfare Standards in Antitrust," Competition Policy Center, Working Paper Series qt1tw2d426, Competition Policy Center, Institute for Business and Economic Research, UC Berkeley.
  2. David Martimort, 1996. "The multiprincipal nature of government," Working Papers 153244, Institut National de la Recherche Agronomique, France.
  3. Martin F. Grace & Richard D. Phillips, 2007. "The Allocation of Governmental Regulatory Authority: Federalism and the Case of Insurance Regulation," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 74(1), pages 207-238.
  4. Thomas P. Gehrig, 2004. "Organizational Form and Information Acquisition," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 160(1), pages 39-, March.
  5. Martimort, David, 1999. "Renegotiation Design with Multiple Regulators," Journal of Economic Theory, Elsevier, vol. 88(2), pages 261-293, October.
  6. Martimort, David, 1999. "The Life Cycle of Regulatory Agencies: Dynamic Capture and Transaction Costs," Review of Economic Studies, Wiley Blackwell, vol. 66(4), pages 929-47, October.
  7. Guy Holburn & Richard Bergh, 2006. "Consumer capture of regulatory institutions: The creation of public utility consumer advocates in the United States," Public Choice, Springer, vol. 126(1), pages 45-73, January.
  8. Jeremy I. Bulow & John Geanakoplos & Paul D. Klemperer, 1983. "Multimarket Oligopoly," Cowles Foundation Discussion Papers 674, Cowles Foundation for Research in Economics, Yale University.
  9. Barros, Pedro Pita & Hoernig, Steffen, 2004. "Sectoral Regulators and the Competition Authority: Which Relationship is Best?," CEPR Discussion Papers 4541, C.E.P.R. Discussion Papers.
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