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European Competition Policy Modernization: From Notification to Legal Exception

Loss, Frédéric; Malavolti-Grimal, Estelle; Vergé, Thibaud; Berges-Sennou, Fabian (2008), European Competition Policy Modernization: From Notification to Legal Exception, European Economic Review, 52, 1, p. 77–98. 10.1016/j.euroecorev.2007.02.001

Type
Article accepté pour publication ou publié
Date
2008-01
Journal name
European Economic Review
Volume
52
Number
1
Publisher
International Arts and Sciences Press
Pages
77–98
Publication identifier
10.1016/j.euroecorev.2007.02.001
Metadata
Show full item record
Author(s)
Loss, Frédéric

Malavolti-Grimal, Estelle
ENAC - Laboratoire d'Economie et d'Econométrie de l'Aérien [LEEA]
Groupe de recherche en économie mathématique et quantitative [GREMAQ]
Vergé, Thibaud
CREST-LEI
Berges-Sennou, Fabian
Groupe de recherche en économie mathématique et quantitative [GREMAQ]
Abstract (EN)
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.
Subjects / Keywords
Politique de la concurrence; Competition policy; Imperfect audit
JEL
D80 - General
L40 - General

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