In this paper, we explore how competition among stock exchanges, operated as self-regulatory organizations (SROs), affects the design of their members' surveillance. We develop a model where two for-profit SROs compete for trading volume, while brokers execute transactions on behalf of the...

There is a data paradox in competition enforcement. Data is an infinitely scalable, widely available, non-rivalrous and non-exclusive asset. The European Commission's merger decisional practice suggests that these features make data a kind of asset unlikely to be conducive to competition issues....

Competition enforcement is characterised by asymmetric information and Competition Authorities have been provided with inspection powers to reduce the informative gap. The paper looks at competition inspections from different perspectives. First of all, the paper analyses convergences of...

The idea of rewarding private parties who participate in the enforcement of public rules is not uncommon. Still, in the field of anti-cartel enforcement the policy of rewarding acts which are beneficial to the public is limited and typically takes the form of forgoing or reducing penalties under...