In this paper, we compare the distribution of price changes between collusive and noncollusive periods for ten major cartels. The first moments focus on previous research. We extend the discussion to the third (skewness) and fourth (kurtosis) moments. However, none of the above descriptive...

This research paper — a companion piece to Professor Patrick Rey's recent report for the FNE regarding the economics of vertical restraints — considers how the important policy implications of Rey's analysis might be translated into effective enforcement standards. As U.S. Supreme Court...