We study the consequences of leniency - reduced legal sanctions for wrongdoers who spontaneously self-report to law … known that leniency helps deterring illegal relationships sustained by repeated interaction. Here we find that - when not … properly designed - leniency may simultaneously provide an effective governance mechanism for occasional sequential illegal …

Forthcoming in the Journal of Public Economics. We study the consequences of leniency - reduced legal sanctions for …, manager-auditor collusion, or drug deals. It is known that leniency helps deterring illegal relationships sustained by … repeated interaction. Here we find that - when not properly designed - leniency may simultaneously provide an effective …

Leniency programs reduce sanctions for law violators that self-report. We focus on their ability to deter cartels and … organized crime by increasing incentives to "cheat" on partners. Optimally designed "courageous" leniency programs reward the … deterrence. "Moderate" leniency programs that only reduce or cancel sanctions may deter organized crime (a) by protecting an …

We study the consequences of leniency - reduced legal sanctions for wrongdoers who spontaneously self-report to law … known that leniency helps to deter illegal relationships sustained by repeated interaction. Here we find that - when not … properly designed - leniency may simultaneously provide an effective governance mechanism for occasional sequential illegal …

deterrence effects before leniency programs were introduced. Previous simulations of the effects of fines ignore the different … type of deterrence that leniency programs bring about, and, therefore, grossly overstate the minimum fine likely to have …

Leniency programmes (or policies) reduce sanctions against cartel members that self-report to the Antitrust Authority …, increasing individual incentives to ‘cheat’ on partners. Optimally designed ‘courageous’ leniency programmes reward the first … first best. ‘Moderate’ leniency programmes that only reduce or cancel sanctions, as implemented in reality, may also …

The paper reviews the recent evolution of leniency programs for cartels in the US and EU, surveys their theoretical … of rewarding whistleblowers in other fields of law enforcement. It concludes with a list of desiderata for leniency and … fraud, or corruption - that share with cartels the crucial features that well designed leniency and whistleblower programs …

Forthcoming in the Journal of Public Economics. We study the consequences of leniency – reduced legal sanctions for …, manager-auditor collusion, or drug deals. It is known that leniency helps deterring illegal relationships sustained by … repeated interaction. Here we find that - when not properly designed - leniency may simultaneously provide an effective …

I find that current US's and EU's Antitrust laws -- in particular their "moderate"' leniency programmes that only …