Houba, Harold; Motchenkova, Evgenia; Wen, Quan - Tinbergen Instituut - 2014
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 … enforcement, leniency, and cartel strategies on the maximal cartel price. Ex-ante leniency cannot reduce the maximal cartel price …