- Sciences Po, Paris, Centre de recherche en Économie (OFCE), Faculty Memberadd
- Frédéric Marty is a CNRS fellow and an affiliated researcher of the French Economic Observatory (OFCE - Sciences Po. ... moreFrédéric Marty is a CNRS fellow and an affiliated researcher of the French Economic Observatory (OFCE - Sciences Po. Paris). He graduated in economics and management from the Ecole Normale Supérieure of Cachan (Ph.D. in economics). Since 2003 he has been a member of the Group of Research in Law, Economics and Management (GREDEG) and of its law department the CREDECO. His publications and teaching deal with law and economics with a focus on procurement contracts and competition policy. He also published a book on law and economics with Thierry Kirat (Economie du Droit et de la Réglementation, Gualino, 2007). His research fields encompass unilateral abuses of dominance, mergers and state aids’ regulation.edit
PPP contracts are one of the main tools of current recovery and reinvestment policies, mostly because they have limited short term effect on public accounts. However, their financial model has been challenged by the economic crisis: based... more
PPP contracts are one of the main tools of current recovery and reinvestment policies, mostly because they have limited short term effect on public accounts. However, their financial model has been challenged by the economic crisis: based on high leveraged financing, in order to limit costs, they have been facing a less favourable economic context, characterised by higher interest rates and shorter term loans that can't match the contracts' duration. The latter, also known as mini-perms, entail refinancing operations that can unbalance risk allocation between the public and private partners. Taking this financial risk into account can lead public purchasing authorities to require higher levels of equity, thus increasing the financing cost of the projects and limiting their value for money.
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Comm. eur., 22 juin 2011, Telekomunikacja Polska, aff. COMP/39525 La Commission europeenne condamne l’operateur historique polonais de telecommunications pour avoir abuse de sa position dominante en entravant l’acces de nouveaux entrants... more
Comm. eur., 22 juin 2011, Telekomunikacja Polska, aff. COMP/39525 La Commission europeenne condamne l’operateur historique polonais de telecommunications pour avoir abuse de sa position dominante en entravant l’acces de nouveaux entrants au marche de l’Internet.
Research Interests:
This paper focuses on the effects of the implementation of artificial intelligence-based algorithms by online intermediation platforms in terms of both economic efficiency and fairness and ethical dimensions. It addresses three main... more
This paper focuses on the effects of the implementation of artificial intelligence-based algorithms by online intermediation platforms in terms of both economic efficiency and fairness and ethical dimensions. It addresses three main issues: the consumer segmentation and the capacity to discriminate; the strategic use of artificial intelligence by dominant platforms in co-opetitive digital ecosystems; and the role of artificial intelligence-based tools to guarantee trustworthy user-reviews on e-commerce platforms. This paper emphasizes the importance of the guarantees for platform users in terms of transparency and accountability.
Research Interests:
Research Interests:
Research Interests:
France’s decision to move to Accrual Based Accounting, triggered by the application of the Organic Law to the Finance Laws, has a tangible impact on political decision-making mechanisms. By adopting accounting and financial information... more
France’s decision to move to Accrual Based Accounting, triggered by the application of the Organic Law to the Finance Laws, has a tangible impact on political decision-making mechanisms. By adopting accounting and financial information standards derived from the private sector, it has the effect of reinforcing the economic rationality of public decisions. It makes it possible, in particular, to draw comparisons between public and private costs, comparisons that are necessary to set up any possible contract-based links with private suppliers. The move towards Accrual Based Accounting sets out to improve the information provided to the public operators. It also tends to limit the possibilities of arbitrations that are unfavourable to long-term investments and the maintenance of public assets. It gives parliaments, control bodies and citizens an appreciation of the policies being carried out, thus reinforcing the demands for the transparency of public accounts and the accountability of...
Research Interests:
Research Interests:
ABSTRACT Rapport scientifique pour le ministère de la recherche, programme ACI " "Normes, pratiques et régulation des politiques publiques", concernant le projet "Les enjeux du nouveau cadre comptable... more
ABSTRACT Rapport scientifique pour le ministère de la recherche, programme ACI " "Normes, pratiques et régulation des politiques publiques", concernant le projet "Les enjeux du nouveau cadre comptable et financier de l'Etat dans le domaine de l'encadrement des contrats administratifs".
Research Interests:
ABSTRACT
Research Interests:
Research Interests:
... ENTRE ACTEURS PRIVES ET PUBLICS* Jean-Luc Gaffard ** et Frédéric Marty*** ... Université de Nice Sophia Antipolis, CNRS-GREDEG et OFCE jeanluc.gaffard@ofce.sciences-po.fr *** CNRS-GREDEG et OFCE frederic.marty@gredeg.cnrs.fr Page 2. 2... more
... ENTRE ACTEURS PRIVES ET PUBLICS* Jean-Luc Gaffard ** et Frédéric Marty*** ... Université de Nice Sophia Antipolis, CNRS-GREDEG et OFCE jeanluc.gaffard@ofce.sciences-po.fr *** CNRS-GREDEG et OFCE frederic.marty@gredeg.cnrs.fr Page 2. 2 1. Introduction ...
Research Interests:
A lot of cases had arouse in the past decade about agreements between regional airports and low-cost carriers. These agreement are challenged on the basis of the State Aids European control as they rise concerns not only about competition... more
A lot of cases had arouse in the past decade about agreements between regional airports and low-cost carriers. These agreement are challenged on the basis of the State Aids European control as they rise concerns not only about competition distortions between airlines but also about fiscal competition risks among Member States or local governments. Such phenomena could be expected as regional airports are characterized by significant overcapacities and overlapping inducing a substitutability for airlines. Surprisingly, the new 2014 guidelines on State Aids granted to airlines open the way to transitory operating aid schemes, an option apparently at odds with the European longstanding principles. Our purpose in this paper is to demonstrate that such agreements can make sense from the economic point of view provided that the relationship between the carrier and the airport is no longer analysed as a vertical chain, inducing an assessment in terms of economic dependence, but as a two-si...
Research Interests:
Analyse economique du contrat de partenariat public-prive relatif aux satellites de telecommunications de defense Skynet V.Etude de la construction contractuelle et de sa renegociation : impact sur l'equilibre economique du contrat
Research Interests:
Research Interests:
Research Interests:
This paper presents the late convergence process from US economists that led them to support a strong antitrust enforcement in the late thirties despite their long standing distrust toward this legislation. The 1945 Alcoa decision crafted... more
This paper presents the late convergence process from US economists that led them to support a strong antitrust enforcement in the late thirties despite their long standing distrust toward this legislation. The 1945 Alcoa decision crafted by Judge Hand embodied the results of this convergence. The purpose of antitrust law enforcement does not consist in promoting economic efficiency, as today’s more economic approach advocates, but in searching for a reasonable compromise aiming at preventing improper uses of economic power. This paper presents the path from which institutionalist economists, on one side, and Chicagoan neoliberals, on the other one, have converged on supporting the President F.D. Roosevelt administration towards reinvigorating antitrust law enforcement as of 1938, putting aside their initial preferences for a regulated competition model or for laissez-faire.
Research Interests:
in 2005, the European Commission advocated for a more economic approach to enforcing competition laws. The sole criterion for assessing the lawfulness of a market practice should be the appraisal of its net effects on consumer welfare.... more
in 2005, the European Commission advocated for a more economic approach to enforcing competition laws. The sole criterion for assessing the lawfulness of a market practice should be the appraisal of its net effects on consumer welfare. The Court of Justice was reluctant to adopt such an approach until its 2017 Intel Judgment. Its endorsement—which is debatable insofar as the judgment may give rise to different interpretations—may appear paradoxical in that it is concomitant with a sharp challenge to the consumer welfare criterion in the United States. The purpose of this article is to retrace the history of this criterion, particularly its adoption in the context of eu competition law. We aim to show that the criticisms of the effects-based approach can be addressed not by moving away from the consumer welfare criterion but by integrating it into a broader perspective that also takes into account the protection of the competition process itself.
Research Interests:
A long-term litigation has opposed AMD to Intel, the dominant firm in the chips market. The first reproached the second pricing practices aiming at excluding it from the market on another basis than a competition on the merits. Intel was... more
A long-term litigation has opposed AMD to Intel, the dominant firm in the chips market. The first reproached the second pricing practices aiming at excluding it from the market on another basis than a competition on the merits. Intel was accused of implemented an anticompetitive strategy through its retroactive loyalty rebates, which incited PC constructors to accept tacit exclusive supply contracts. Our purpose does not consist in assessing the anticompetitive nature of such schemes or in evaluating to what extent they are detrimental to consumer welfare. We propose to consider the judicial strategy implemented by AMD. It lodged several complaints in numerous jurisdictions. Complaints were filled abroad (Japan, Republic of Korea, European Union), in some US States, before the Antitrust Division of the DoJ, before the FTC and through the private enforcement of the Sherman Act. Economic literature, especially the Chicago School, highlights, for ages, the risk of misuses of Antitrust ...
Research Interests: Business and Engineering
Les contrats de Private Finance Initiative (PFI) britanniques ont connu un coup d'arret particulierement marque en 2010/11. Ce recul n'est pas seulement conjoncturel ou ne traduit pas seulement un epuisement progressif du... more
Les contrats de Private Finance Initiative (PFI) britanniques ont connu un coup d'arret particulierement marque en 2010/11. Ce recul n'est pas seulement conjoncturel ou ne traduit pas seulement un epuisement progressif du reservoir de projets d'investissements publics eligibles. Il traduit a la fois un changement radical de la donne financiere depuis la crise de 2008, induisant un net accroissement du surcout du financement prive vis-a-vis du financement public et de fortes preventions de la part du nouveau gouvernement de coalition arrive au pouvoir en juin 2010. Nous presentons dans une premiere partie les fondements theoriques et le developpement historique des partenariats public-prive au Royaume-Uni depuis les annees quatre-vingt. Nous nous attachons dans une premiere section aux interets theoriques des PPP pour l'analyse economique et la gestion publique avant de mettre en exergue le fait que le modele partenarial s'est developpe dans un contexte financier ...
Research Interests:
La convergence numerique redefinit les frontieres traditionnelles entre marches des telecommunications et marches de l'audiovisuel, remettant en cause les marches pertinents habituellement definis par les autorites de concurrence. et... more
La convergence numerique redefinit les frontieres traditionnelles entre marches des telecommunications et marches de l'audiovisuel, remettant en cause les marches pertinents habituellement definis par les autorites de concurrence. et Elle etablissant etablit des couplages entre les segments amont et aval, creant et cree ainsi autant de complementarites entre des biens et services relevant, a l'origine, de marches distincts. Elle favorise la mise sur le marche de nouveaux biens et services, permet de nouvelles entrees et, en accroissant la diversite des choix offerts aux consommateurs, erode les positions dominantes. Elle Cette convergence n'en induit pas moins quelques risques pour la concurrence. Il en est ainsi d'un possible cloisonnement du marche pouvant decouler de l'integration verticale des acteurs ou de la generalisation de clauses d'exclusivite. Elle risque egalement de favoriser le deploiement de strategies d'eviction anticoncurrentielle et de p...
Research Interests:
Ce document de travail s'attache aux consequences de la crise des subprimes sur les conditions d'acces aux marches des fonds pretables pour les collectivites territoriales a la fois americaines et europeennes. Nous nous attachons... more
Ce document de travail s'attache aux consequences de la crise des subprimes sur les conditions d'acces aux marches des fonds pretables pour les collectivites territoriales a la fois americaines et europeennes. Nous nous attachons notamment aux consequences de la crise sur les politiques de gestion active des la dette, notamment sur les produits structures a l'origine des debats autours des emprunts dits toxiques
Research Interests:
Cette contribution vise a mettre en exergue les racines ordoliberales de la politique de concurrence europeenne et s’interroge sur la compatibilite d’une approche plus economique, centree sur le critere de la maximisation du bien-etre du... more
Cette contribution vise a mettre en exergue les racines ordoliberales de la politique de concurrence europeenne et s’interroge sur la compatibilite d’une approche plus economique, centree sur le critere de la maximisation du bien-etre du consommateur, avec la pratique decisionnelle europeenne.
Research Interests:
L'un des principaux enjeux qui se posent en matiere de viabilite et d'acceptabilite sociale des marches de l'electricite liberalises tient dans la capacite de ces derniers a satisfaire la demande dans des conditions de prix... more
L'un des principaux enjeux qui se posent en matiere de viabilite et d'acceptabilite sociale des marches de l'electricite liberalises tient dans la capacite de ces derniers a satisfaire la demande dans des conditions de prix raisonnables . Deux dimensions sont alors presentes. La premiere tient a des dimensions de court terme. Elles sont liees au pilotage du reseau electrique, a son efficacite propre et a l'eventualite de manipulation des cours par les acteurs du marche. La seconde correspond a des dimensions de long terme. Elle tient a l'adequation du parc productif avec la demande. Il s'agit alors de la question de l'optimalite des signaux de prix fournis par les marches de l'electricite en matiere d'incitations a l'investissement .Si les marches de l'electricite etaient parfaitement efficients, les investisseurs seraient en mesure de former des anticipations parfaites sur les cash-flows attendus de leurs investissements. Ils devraient et...
Research Interests:
The paper addresses the connections between public accounting, procurement regulation and public management. The starting point is the poor performance of cash accounting as a way to tackle cost overruns and delays in procurement... more
The paper addresses the connections between public accounting, procurement regulation and public management. The starting point is the poor performance of cash accounting as a way to tackle cost overruns and delays in procurement contracts. This can be explained by the specific rationale of cash accounting: as the accounting face of authorization acts, it closer to an administrative/political rationale than to an economic one: the conventional public accounting systems have been set up in order to deliver to the Parliement and administrative agencies a budgetary kind of information. The paper expands on the reasons why the public accounting information system is unsuited to public contract management. It then argue that the implementation of new procurement contracts, such as Public-Private Partnerships in a unchanging public accounting system, is a dead-end. As a matter of fact, PPP can induce additional risks if the accounting framework is unsuited. Finally, the paper explores som...
Research Interests:
La convergence numerique a des effets ambivalents sur la concurrence. D'une part, elle renforce la contestabilite des positions acquises en redefinissant les frontieres des marches. D'autre part, elle peut favoriser des strategies... more
La convergence numerique a des effets ambivalents sur la concurrence. D'une part, elle renforce la contestabilite des positions acquises en redefinissant les frontieres des marches. D'autre part, elle peut favoriser des strategies anticoncurrentielles de forclusion des marches au travers notamment de strategies de preemption. Celles-ci sont particulierement observables en matiere de droits audio-visuels, notamment les droits dits premium portant sur les contenus les plus attractifs aux yeux des telespectateurs a l'instar des championnats de football ou des blockbusters hollywoodiens. Il s'agit ici d'analyser les effets des clauses d'exclusivite sur la dynamique de la concurrence et de s'interroger sur les capacites des autorites en charge de l'application des regles de concurrence a prevenir les risques de forclusion des marches. En filigrane, se pose la question de la repartition des roles entre mise en oeuvre des regles de concurrence et politiques ...
Research Interests:
Les aides aux compagnies low-cost sont consequentes et suscitent des plaintes de la part des compagnies concurrentes, pour exemple la plainte deposee par Air France contre Ryanair en novembre 2009. Les aides publiques conduisent toujours... more
Les aides aux compagnies low-cost sont consequentes et suscitent des plaintes de la part des compagnies concurrentes, pour exemple la plainte deposee par Air France contre Ryanair en novembre 2009. Les aides publiques conduisent toujours a des distorsions de concurrence dont les effets sont en general difficiles a evaluer. Nous proposons dans cet article une analyse economique des aides publiques versees aux compagnies aeriennes low-cost par les aeroports regionaux. Notre analyse est centree sur l'impact de ces aides sur les differents acteurs (consommateurs, compagnies aeriennes et aeroports) et nous soulevons le probleme de la quantification de cet impact. Une analyse precise de la jurisprudence ainsi que l'evolution des positions des autorites europeennes en charge de l'application des regles de concurrence dans le traitement de ces aides est egalement proposee afin d'en evaluer l'impact sur leur attribution.
Research Interests:
La financiarisation des economies conduit a un basculement des conventions comptables. En effet, le standard international d'evaluation des firmes sur la base du critere de la creation de valeur requiert une homogeneisation des... more
La financiarisation des economies conduit a un basculement des conventions comptables. En effet, le standard international d'evaluation des firmes sur la base du critere de la creation de valeur requiert une homogeneisation des informations comptables et plaide pour l'adoption de donnees de marche, independantes des choix comptables de la firme, et donc supposees objectives. Ce faisant, il est possible de mettre en evidence une coherence entre la generalisation du critere de l'EVA et l'adoption des IFRS. Nous montrerons comment il est possible de lire le changement de normes comptables selon le prisme des evolutions des rapports de forces entre les differentes parties-prenantes et nous essaierons d'en identifier les principaux risques et enjeux
Resume La crise des subprimes n’affecte pas seulement les collectivites locales americaines au travers de la reduction de leurs rentrees fiscales. La crise financiere, que cette derniere a declenchee, a aussi pour effet de conduire a un... more
Resume La crise des subprimes n’affecte pas seulement les collectivites locales americaines au travers de la reduction de leurs rentrees fiscales. La crise financiere, que cette derniere a declenchee, a aussi pour effet de conduire a un net rencherissement du cout de leur dette. Ce phenomene s’explique par le recours de celles-ci aux
Research Interests:
La mise en œuvre des prescriptions du Nouveau Management Public au sein de la sphere publique se traduit notamment par des deplacements de frontiere entre spheres publique et privee en matiere de fourniture des services publics. Des... more
La mise en œuvre des prescriptions du Nouveau Management Public au sein de la sphere publique se traduit notamment par des deplacements de frontiere entre spheres publique et privee en matiere de fourniture des services publics. Des fonctions initialement realisees en regie peuvent faire l'objet de contrats de partenariats public-prive. Notre propos est d'evaluer les consequences du recours a de tels contrats sur la gestion des ressources humaines au sein du secteur public. Il s'agit, dans le cadre de cette contribution, de s'attacher aux conditions juridiques dans lesquelles s'operent d'eventuels transferts et aux consequences du recours a des contrats de partenariats sur les competences requises au sein de la sphere publique. Un recours efficace a de tels contrats en termes de qualite et de performance du service public passe par une transformation et un developpement des competences au sein de la sphere publique et ne pourrait en aucun cas etre realise en ...
Research Interests:
Accounting treatment of PPP contracts is at stake, for most operations can be considered as off-balance sheet. Through an analysis of the British case, this paper studies the ways to limit these short sighted financial strategies. As... more
Accounting treatment of PPP contracts is at stake, for most operations can be considered as off-balance sheet. Through an analysis of the British case, this paper studies the ways to limit these short sighted financial strategies. As accounting rules remain unspecific, PPP generate contingent liabilities and are considered off-balance sheet. However, Government's financial framework must altogether record public underwritings (take or pay payments) and assess the sustainability of signed projects. Accounting international standards can improve the financial governance of PPP. They allow for monitoring future government commitments and improving the forecast of unitary charges over the life cycle of the PPP contract.
Research Interests:
Il s'agit de s'interroger sur l'impact de la politique europeenne de concurrence sur les droits de propriete des operateurs dominants et sur leur liberte contractuelle. Non seulement pese sur ces derniers la notion de... more
Il s'agit de s'interroger sur l'impact de la politique europeenne de concurrence sur les droits de propriete des operateurs dominants et sur leur liberte contractuelle. Non seulement pese sur ces derniers la notion de responsabilite particuliere vis-a-vis de la preservation d'une structure de marche de concurrence effective mais de plus la Commission peut prononcer au titre de sanction pour abus de position dominante un certain nombre de mesures correctives de nature comportementale ou de nature structurelle, posant la question du respect de leurs droits fondamentaux. Le document de travail evalue ces remedes a l'aune de l'efficacite economique et du respect des droits dans le cadre de decisions contentieuses (article 7 du reglement n°1/2003) pour le cas des actifs intangibles au travers de l'application de la theorie des facilites essentielles. En conclusion, nous nous attachons au cas des mesures structurelles faisant l'objet d'une decision rend...
Research Interests:
Among other factors, one can assess the efficacy of a competition authority by its ability to choose and implement its remedies. Up until now, a dense economic literature has emerged on retrospective merger studies to measure the efficacy... more
Among other factors, one can assess the efficacy of a competition authority by its ability to choose and implement its remedies. Up until now, a dense economic literature has emerged on retrospective merger studies to measure the efficacy of merger control. Yet, little attention has been given to remedies in the other major pillar of competition policy, i.e. abuses of dominant position. In this paper, we try to fill the gap by first highlighting what is at stake and second analyse the most emblematic cases. We focus on the European Commission, while U.S. cases serve us as benchmark.
The European Commission has imposed, the 13th May 2009, a huge fine of €1.06 bn on Intel for abuses of dominant position. According to the European Commission, throughout the period October 2002-December 2007, Intel engaged illegal... more
The European Commission has imposed, the 13th May 2009, a huge fine of €1.06 bn on Intel for abuses of dominant position. According to the European Commission, throughout the period October 2002-December 2007, Intel engaged illegal practices to exclude its rival AMD from the market of computer chips. The case puts into relief the issue of the possibility for a dominant firm to implement fidelity rebates, without distorting competition. Such practices are commonly assessed very differently on the both side of Atlantic. When European competition policy remains inspired by the Freiburg School of Law and Economics, the US one is shaped by the Chicago’s approach. The purpose of this article is to put the present case into the perspective of competition economics. We also aim at discussing on the potential reconciliation of these two perspectives in a context of a reassessment of the antitrust treatment of dominant firms’ unilateral practices in the United States and of a European willing...
Our paper aims at developing an analysis of the European competition law enforcement dynamics based on an economics of conventions' framework. We question the ordoliberal theoretical foundations of the EU competition policy and we... more
Our paper aims at developing an analysis of the European competition law enforcement dynamics based on an economics of conventions' framework. We question the ordoliberal theoretical foundations of the EU competition policy and we assess to what extent the implementation of a "more economic approach" might pertain to a convention inspired by the Chicago School normative views. We question the economic history, the history of economics thought, and the legal history as we consider that the European courts case law is the main driving force of conventional shifts in matter of competition law enforcement.
De nombreuses collectivites locales s'engagent dans des montages concessifs ou partenariaux pour porter des projets de construction et d'exploitation de reseaux de telecommunications a haut et tres haut debits. En effet, la loi... more
De nombreuses collectivites locales s'engagent dans des montages concessifs ou partenariaux pour porter des projets de construction et d'exploitation de reseaux de telecommunications a haut et tres haut debits. En effet, la loi sur la confiance dans l'economie numerique du 21 juin 2004 a permis aux collectivites territoriales d'intervenir dans le domaine des telecommunications en creant ou en subventionnant l'etablissement de reseaux a haut debit. Celles-ci ont la faculte de mettre en place des reseaux actifs et meme d'exercer une activite d'operateur (en fournissant des services aux clients finals) en cas de defaillance de l'initiative privee. A ce premier assouplissement du cadre juridique dans lequel est appelee a sa deployer l'action economique locale, s'ajoute a la fois la possibilite de mettre en œuvre des contrats de partenariats public-prive au sens de l'ordonnance du 17 juin 2004 et la reconnaissance par l'Union europeenne de ...
Le partenariat public-prive constitue un concept en vogue en matiere de management public.Il s'insere dans une dynamique de recul de l'Etat “puissance publique” au profit d'un Etats'engageant dans une demarche de... more
Le partenariat public-prive constitue un concept en vogue en matiere de management public.Il s'insere dans une dynamique de recul de l'Etat “puissance publique” au profit d'un Etats'engageant dans une demarche de contractualisation avec les acteurs economiques tant publicque prive pour soutenir la coordination economique vers l'accomplissement d'objectifs jugescomme participants a l'interet general.Tel qu'il est defini dans le projet d'ordonnance relatif aux contrats de partenariats1, lepartenariat public-prive est un contrat permettant de confier a une entreprise privee un contratglobal portant sur la conception, le financement, la realisation et l'exploitation de certainsequipements necessaires a la realisation de services publics. De tels contrats peuvent etrenoues par toute administration publique (Etat, collectivites territoriales et etablissementspublics), ainsi que par toute entreprise privee delegataire de missions de service public.Il...
Research Interests:
Our purpose in this working paper is to give some insights into the integration of environment-oriented criteria in public procurement policy and particularly in public-private partnership contracts. If the efficiency of public... more
Our purpose in this working paper is to give some insights into the integration of environment-oriented criteria in public procurement policy and particularly in public-private partnership contracts. If the efficiency of public procurement as a vector of implementation of horizontal public policy may be put into question, as its capacity to generate significant spill-over effects on private markets, we do consider that the potential of public-private partnerships may be more promising because of the inner nature of such contracts (their long term duration, the global mission given to the private partner, the contract focalization on the outcomes its risk sharing nature and its awarding procedure). To illustrate this point we do consider the cases of energy-efficiency contracts and public-real estate deals inasmuch these arrangements are very well fitted for helping governments to implement their environmental strategies. From the study of a sample of French PPP contracts for which w...
Most of the literature on PPP focuses on the economic optimality of entering these contracts, or on their accounting issues. Other articles deal with the shortcomings of PPP, but narrow their study to developing countries and explain the... more
Most of the literature on PPP focuses on the economic optimality of entering these contracts, or on their accounting issues. Other articles deal with the shortcomings of PPP, but narrow their study to developing countries and explain the phenomenon by deficiencies in the regulatory framework. However, the lessons learnt through twenty years of Private Finance Initiatives in the United Kingdom allow highlighting a number of risks and issues that French PPP are most likely to face. If some of these are related to the provision of the service itself (construction and operation risks), others derive from the financial strategy chosen by the private partner. Beyond, this paper tries to analyse the issues related to contract renegotiations and termination. Finally, it will question the surprisingly limited number of PPP claim cases in the United Kingdom.
Research Interests:
Among the criterions used for the mergers’ control in the European Competition polices, the notion of collective dominant position takes a large place. A merger can induce two different effects in terms of market power. The first one, the... more
Among the criterions used for the mergers’ control in the European Competition polices, the notion of collective dominant position takes a large place. A merger can induce two different effects in terms of market power. The first one, the individual dominant position, called unilateral effect in US Antitrust, corresponds to the entity’s ability to realise a significant and not transitory increase of its prices above the perfect competition level without expecting a cooperative response from its competitors. The second competitive risk is linked to the coordinated effects. The fewer are the competitors, the easier a collusive equilibrium would be to reach. But, many of the Commission’s decisions taken on the basis of such collective dominant position are cancelled by the European Court of First Instance on the ground of failures in their economic assessment. Our purpose is to analyse the notion of collective dominant position in-depth in order to bring to the fore the links between t...
Research Interests:
The essential facilities doctrine (EFD) involves antitrust liability for a dominant firm, when an access refusal to one of its asset could exclude an actual or a potential competitor from the market. First used for network industries’... more
The essential facilities doctrine (EFD) involves antitrust liability for a dominant firm, when an access refusal to one of its asset could exclude an actual or a potential competitor from the market. First used for network industries’ infrastructures, the EFD was progressively extended to intangible assets, as intellectual property rights, as Magill, IMS or Microsoft cases show it. The European practices sharply contrast with US Antitrust positions. Mandatory access decisions could induce significant adverse effects on investment incentives for both dominant firm and its competitors. In order to assess such risks, we analyzed in this paper the criteria used in the European competition case law. We highlight the potential consequences of their ambiguity and their subsequent plasticity. We consider that such characteristics could be both analyzed in terms of legal uncertainty, in terms of legal resources for corporate strategies or in terms of additional room for competition authoriti...
Research Interests:
In this article, we investigate the role of keystone players and consider their impact in terms of innovation rate in an industry. To do so, we build a theoretical framework that considers the innovation rate in the context of an industry... more
In this article, we investigate the role of keystone players and consider their impact in terms of innovation rate in an industry. To do so, we build a theoretical framework that considers the innovation rate in the context of an industry with one keystone player and then with multiple keystone players. The results are threefold. First, the presence of a keystone player is incredibly important for innovation on a market. Second, however, our results also show that a biased market power in favor of the keystone player may hinder innovation in this industry, although the negative impact on the industry’s innovation rate may not be seen at first. Finally, we demonstrate that an industry obtains a higher innovation rate with multiple keystone players. This framework could inform decisions for the antitrust enforcers.
L'information comptable et budgetaire publique ne decrit pas seulement les flux financiers et les decisions lies a l'action publique, elle produit des effets sur cette derniere en construisant une certaine interpretation de la... more
L'information comptable et budgetaire publique ne decrit pas seulement les flux financiers et les decisions lies a l'action publique, elle produit des effets sur cette derniere en construisant une certaine interpretation de la realite, notamment de ce qu'est etre en conformite avec le droit (Lascoumes et Le Gales, 2007 et Edelman, dans cet ouvrage). La comptabilite structure par ce biais les cadres de pensee des acteurs et produit, ce faisant, constitue de nouveaux cadres incitatifs qui vont influencer leurs comportements (Hines, 1998). A ce titre, la mise en place d'une nouvelle constitution financiere de l'Etat au travers de la Loi Organique relative aux Lois de Finances (LOLF) de 2001 ne doit pas etre analysee sur un plan strictement technique. Les changements dans les regles de droit comptable et budgetaire publiques doivent etre saisis comme des choix de nature politique. Les categories comptables et budgetaires ont un impact performatif sur les choix des de...