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Sectoral Regulators and the Competition Authority: Which Relationship is Best?

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  • Hoernig, Steffen
  • Barros, Pedro

Abstract

Inspired by the creation of the new Competition Authority in Portugal, we consider the interplay between regulatory agencies with overlapping competencies; for example, a competition authority and a sectoral regulator. We analyse how authorities? incentives are affected if they can decide independently, or must follow each others? opinions, respectively, and consider how this relationship performs in the presence of institutional biases and lobbying efforts. It is found that the best results tend to be achieved when the authorities act independently of each other: the probability of coming to a decision is higher, and decisions are less vulnerable to lobbying.

Suggested Citation

  • Hoernig, Steffen & Barros, Pedro, 2004. "Sectoral Regulators and the Competition Authority: Which Relationship is Best?," CEPR Discussion Papers 4541, C.E.P.R. Discussion Papers.
    • Handle: RePEc:cpr:ceprdp:4541
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    Cited by:

    1. Pedro P. Barros & Steffen Hoernig & Tore Nilssen, 2015. "Transversal Agency and Crowding Out," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 171(4), pages 589-608, December.
    2. International Monetary Fund, 2007. "Italy—Assessing Competition and Efficiency in the Banking System," IMF Working Papers 2007/026, International Monetary Fund.
    3. Antonio Estache & L. Wren-Lewis, 2008. "Towards a Theory of Regulation for Developing Countries: Following Laffont's Lead," Working Papers ECARES 2008_018, ULB -- Universite Libre de Bruxelles.
    4. Frédéric Loss & Estelle Malavolti-Grimal & Thibaud Vergé, 2007. "Comment décentraliser la politique européenne de concurrence ?," Economie & Prévision, La Documentation Française, vol. 0(2), pages 115-124.
    5. Barros, Pedro P. & Hoernig, Steffen & Nilssen, Tore, 2008. "Keeping Both Eyes Wide Open: The Life of a Competitive Authority among Sectoral Regulators," Memorandum 12/2008, Oslo University, Department of Economics.
    6. Stefano Barbieri & Kai A. Konrad, 2021. "Overzealous Rule Makers," Journal of Law and Economics, University of Chicago Press, vol. 64(2), pages 341-365.
    7. Vasconcelos, Helder & Fumagalli, Eileen, 2006. "Cross-Border Merger Waves," CEPR Discussion Papers 5601, C.E.P.R. Discussion Papers.

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    JEL classification:

    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation

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