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...

We study information transmission between an informed expert and an uninformed decision-maker when the decision is binary and the expert does not have a systematic bias. Whenever an equilibrium exists where the decision is delegated to the expert, it is ex ante Pareto-dominant. Adding a round of...