Although the legal and the political-scientific literatures on European competition policy (‘ECP’) are vast, there is no work that goes beyond the rationalization of stylized historical and/or legal facts. This approach may be justified on grounds of the political complexity of ECP and/or the heterogeneity of units of analysis. Nevertheless, the failure to come up with a positive device that identifies conditions under which specific policy decisions may or may not be possible has limited our assessments of the policy to value judgments rather than to true explanations. This paper attempts to remedy this situation by offering a logically complete and internally consistent model of ECP decision-making procedures. I show how the dependence of the European antitrust regulator (DG COMP) on a heterogeneous, multi-task and collegial organization (the Commission) severely constrains the feasible policy options of the former, and I argue that the nature and the goals of ECP are a function of (a) the ability of DG COMP to rely on national authorities, and (b) the distance between the ideal policy points of, on the one hand, the pivotal Directorate General in the Commission and, on the other hand, DG COMP and its internal opponents. Empirical work should follow
