collusion. Firms choose messages to influence the propensity of consumers to compare products. The cartel hinders transparency … firm or the cartel as a whole can control comparability. We also analyse the impact of message differentiation and …

This paper sheds new light on the role of communication for cartel formation. Using machine learning to evaluate free … cartel formation and indirect attempts to collude tacitly. We document that firms are less likely to communicate explicitly … sanctions on communication reinforces the direct cartel-deterring effect of sanctions as collusion is more difficult to reach …

Numerous studies investigate which sanctioning institutions prevent cartel formation but little is known as to how … sanctions are effective in hindering cartel formation not only because they introduce a risk of being fined but also by reducing …

on average significantly lower in cartel years than in non-cartel years. …

Germany, we study a cartel breakdown to identify the effect of competition on transport distances. Our econometric analyses …