Previous research exploring the effect of corporate leniency programs has modelled the oligopoly stage game as a Prisoners?Dilemma. Using numerical analysis, we consider the Bertrand price game and allow the probability of detection and penalties to be sensitive to firms?prices. Consistent with...

An economy is considered where a possibility to seek rents (a particular case of this activity is corruption) exists along with production. A producer is able to hide part of his output from both bribery and taxation. It is shown that the presence of a shadow sector has different effects in...

Federal Sentencing Guidelines Governing Organizations purport to constrain judicial discretion over corporate criminal penalties. We investigate the effect on courts' sentencing decisions using pre- and post-Guidelines data, including evidence on cases and penalties that the Guidelines do not...