considerations, and minimum fines. Bankruptcy considerations limit maximum fines, ensure abnormal cartel profits and impose a … lower price by making it more attractive than collusion on higher prices. For a range of low cartel prices, the fine is set … to the legal minimum. Raising minimum fines will enable the cartel to raise its price and is better avoided. Our analysis …

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 …

butadiene rubber cartel case (e.g. in Trade-Stomil v Commission). Finally, the Commission dealt with a merger case with a truly …

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 …

This article confirms that OPEC is neither a cartel nor exhibits any sign of market domination, market control, or …

analysis and investigates whether they operate efficiently (See www.wiwi.uni-muenster.de/cfd). The CFD cartel-audit should … cartels cause failures in the observed process patterns. The CFD cartel-audit attempts to draw conclusions from these process …