We analyze how leniency affects cartel pricing in an infinitely-repeated oligopoly model where the fine rates are … we focus on the worst possible outcome. We investigate the maximal cartel price, the largest price for which the … conditions for sustainability hold. We analyze how the maximal cartel price supported by different cartel strategies adjusts in …

We analyze maximal cartel prices in infinitely-repeated oligopoly models under leniency where fines are linked to … collusion. We introduce cartel culture that describes how likely cartels persist after each conviction. Our analysis … disentangles the effects of traditional antitrust regulation, leniency, and cartel strategies. Without rewards to the strictly …

-repeated oligopoly model. Bankruptcy considerations ensure abnormal cartel profits. We derive the optimal fine schedule that achieves …

considerations, and minimum fines. Bankruptcy considerations limit maximum fines, ensure abnormal cartel profits and impose a … challenge for optimal antitrust enforcement. We integrate the mentioned legal principles into an infinitely-repeated oligopoly … lower price by making it more attractive than collusion on higher prices. For a range of low cartel prices, the fine is set …

For a general class of oligopoly models with price competition, we analyze the impact of ex-ante leniency programs in … antitrust regulation on the endogenous maximal-sustainable cartel price. This impact depends upon industry characteristics … including its cartel culture. Our analysis disentangles the effects of traditional antitrust regulation and the leniency program …

In this paper we set out the welfare economics based case for imposing cartel penalties on the cartel overcharge rather … of a penalty based on the cartel overcharge with three other penalty regimes: fixed penalties; penalties based on revenue … conjunction with the above result, our analysis of cartel stability (and thus deterrence), shows that penalties based on the …

policy enforcement. This paper proofs this intuition wrong. As extending the repose period reduces cartel members' defection …

cartel formation, cartel stability and cartel recidivism. The program leads to lower prices for three reasons. First, non …-cooperators are more persistent in their behavior which effectively blocks cartel formation in their respective groups. Second …, members of groups that do form a cartel defect more often thus reducing the average cartel lifetime. Third, the difference …

. Our data indicate support for the theory of product bundling: with bundling and simultaneous moves, the multiproduct firm … better attained with bundling, especially when it chooses to bundle, even though in theory bundling should not make a …