In the last 15 years we have seen a revolution in the use of economics in competition. The central role of economic analysis for good decision making has been acknowledged by the Commission ever since the introduction of a “more economic approach” in merger, antitrust, and state aid policy. The last ten years have shown that such an approach can vastly improve the quality of decision making. However, this experience has also highlighted that a more economic approach poses challenges to the administrative process.
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