: subjects use costly fines as (altruistic) punishments. Leniency further increases deterrence, but stabilizes surviving cartels …. With rewards, cartels are reported systematically and prices finally fall. If a ringleader is excluded from leniency …

We review current methods for calculating fines against cartels in the US and EU, and simulate their deterrence effects …

. We focus on their ability to directly deter cartels and analogous criminal organizations by undermining internal trust … destabilize and deter cartels by (a) protecting agents that defect (and report) from fines; (b) protecting them from other agents …

formation, and discusses how corporate governance and firm agency problems affect optimal law enforcement against cartels, both …

We study cartel contracts using data on 18 contract clauses of 109 legal Finnish manufacturing cartels. One third of … organization, or external threats. Cartels use three main approaches to raise profits: Price, market allocation, and specialization …. These appear to be substitutes. Choosing one has implications on how cartels deal with instability. Simplifying, we find …

to several other crimes sharing cartels' strategic features, including corruption and financial fraud. …