available open access at: https://www.tandfonline.com/doi/full/10.1080/17441056.2020.1824722Thinking in terms of supply chains, a crux with a view to antitrust damages is the fact that calculations (of market participants and hence also within legal proceedings) do not stop at the bilateral...

From a consequentialist perspective, the deterrence of undesirable behavior is one of the main functions of a legal system. For antitrust law, the deterrence of cartel behavior is its least controversial goal. Cartels harm markets economies with static and dynamic inefficiencies. And...

Adam Smith acquired yet another fifteen minutes of fame when his views on collusion were injected into the Supreme Court's ruling in Bell Atlantic v. Twombly. We consider Smith's views on the small group solidarity. Motivation by a desire for approbation provides Smith's explanation for the...

This paper develops a model of the birth and death of cartels in the presence of enforcement activities by a Competition Authority (CA). We distinguish three sets of interventions: (a) detecting, prosecuting and penalizing cartels; (b) actions that aim to stop cartel activity in the short-term,...

For a general class of oligopoly models with price competition, we analyze the impact of ex-ante leniency programs in antitrust regulation on the endogenous maximal-sustainable cartel price. This impact depends upon industry characteristics including its cartel culture. Our analysis disentangles...