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On the effective design of the efficiency defence.. (2006). Tropeano, Jean-Philippe ; Cosnita-Langlais, Andreea.
In: Cahiers de la Maison des Sciences Economiques.
RePEc:mse:wpsorb:v06030.

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  2. [10] Lagerlof, J. and P. Heidhues (2005), On the Desirability of An Efficiency Defense in Merger Control, International Journal of Industrial Organization, Vol. 23, Issues 9-10, p.803-827

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  5. [13] Rey, P. (2003), Economic Analysis and the Choice of Remedies, in F. Léveque and H. Shelanski (Eds), Merger Remedies in American and European Union Competition Law, London: Edward Elgar Publishers
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  6. [14] Roller, L-H., Stennek J. and F. Verboven (2000), Efficiency Gains from Mergers, European Economy 5, p.32-127 17

  7. [15] Seldeslachts, J., J.A. Clougherty, and P. Barros (2006), Remedy for Now but Prevent for Tomorrow: the Deterrence Effects of Merger Policy Tools, mimeo March 2006

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  9. [2] Becker, G.S. (1968), Crime and Punishment: An Economic Approach, Journal of Political Economy 76(2), p. 169-217 220ur model and results are consistent with a Moral Hazard framework, in as much as players are risk-neutral yet the transfers are constrained (the reservation profit equals either H~. or Hr). However, the `rent transfer (allowing H~) is not costly to the principal, therefore the First Best is obtained whenever the remedy ensures the highest effort incentives. The only inefficiency and hence trade-off for the CA occurs when the remedy no longer provides the highest effort incentives. 16

  10. [3] Berges-Sennou, F., F. Los, E. Malavolti-Grimal and T. Verge (2004), European Competition Policy Modernization: From Notification to Legal Exception , mimeo June 2004

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  13. [6] Council Regulation (EC) No 139/2004 of 20 January 2004 on the control of concentrations between undertakings (the EC Merger Regulation) - Official Journal L 24, 29.01.2004, pages 1-22
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  14. [7] Ecer, 5. (2005), A rational expectations critique of merger policy analysis, Economics Letters 86, p. 73-77

  15. [8] Ilzkovitz, F. and R. Meiklejohn (2001), European Merger Control: do we need an efficiency defence?, European Economy, No. 5

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