Standard methods in the U.S. for calculating antitrust damages in price-fixing cases is shown to create a strategic incentive for firms to price above the non-collusive price after the cartel has dissolved. This results in an overestimate of the but for price and an underestimate of the level of...

Scientific progress is driven by innovation ?which serves to produce a diversity of ideas ?and imitation through a social network ?which serves to diffuse these ideas. In this paper, we develop an agent-based computational model of this process, in which the agents in the population are...