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Modernization Of European Antitrust Enforcement: The Economics Of Regulatory Competition, Ben Depoorter, Francesco Parisi
Modernization Of European Antitrust Enforcement: The Economics Of Regulatory Competition, Ben Depoorter, Francesco Parisi
George Mason University School of Law Working Papers Series
In this article we analyze the expected effects of regulatory overlap in European competition law resulting from Regulation 1/2003. Drawing upon recently developed economic theories of regulatory competition, our model foresees a number of qualitative adjustments resulting from this reform. On one hand, the direct applicability of the exemption provision should increase the overall amount of exemptions. On the other hand, a decentralized system permits private litigants' forum shopping, and parallel enforcement by multiple national competition authorities will drive up the number of infringement findings. Although the precise direction of substantive competition law is unclear, the overall effect is higher …