European competition policy modernization : from notifications to legal exceptionReport as inadecuate




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1 Laboratoire d-économétrie 2 LEEA - ENAC - Laboratoire d-Economie et d-Econométrie de l-Aérien 3 Laboratoire d-Economie Industrielle 4 INRA

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 illegality should be implemented when the agreements- expected welfare impact is very high and very low, respectively.

Keywords : competition policy imperfect audit





Author: Frédéric Loss - Estelle Malavolti - Thibaud Vergé - Fabian Bergès-Sennou -

Source: https://hal.archives-ouvertes.fr/



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