Antitrust and competition law have grown dramatically in importance and significance over the last fifty years. US antitrust law has been the principal source of inspiration for jurisdictions wishing to introduce regulation to control cartels and monopolization, and antitrust regulation has now...

This paper undertakes a statistical analysis of the fines imposed on 168 firms in 22 cartels prosecuted by European Commission under the 2006 Penalty Guidelines, leniency notice, settlement process, and the courts on appeals over the period 2007 to 2010. It looks closely at how the Commission...

This paper describes some major trends in cartelization of markets worldwide with a special emphasis on the economic injuries being generated by illegal collusion. Known affected commerce by international cartels discovered during 1990-2014 exceeds a nominal $13.6 trillion worldwide. Projections...

Based on an analysis of cartel prosecutions since 2007, this article assesses the way the European Commission has built up its fines in practice. The fines are compared with those imposed by the European Commission over the period from 1999 to 2006. The main findings are that, while fines have...

This chapter sets out the principles and emerging practice governing cartel damages in the EU and UK. It identifies the types of damages available; the issue surrounding causation, pass-on, volume effects, and mitigation; and the methods that have been be used to estimate overcharges, volume...

This paper brings up to date an on-going statistical analysis of the fines imposed in cartel prosecutions commenced between 1998 and 2006 by the European Commission and courts on appeal under the 1998 Penalty Guidelines and completed to the end of October 2010. Based on an analysis of all 46...

In this article, we revive an old debate in the law and economics literature: the relative role of public and reputational sanctions in deterring misconduct. We propose an empirical framework, which accounts for public sanctions (in our case cartel fines) and a more direct measure of...

In this paper we set out the welfare economics based case for imposing cartel penalties on the cartel overcharge rather than on the more conventional bases of revenue or profits (illegal gains). To do this we undertake a systematic comparison of a penalty based on the cartel overcharge with...

In this paper we set out the welfare economics based case for imposing cartel penalties on the cartel overcharge rather than on the more conventional bases of revenue or profits (illegal gains). To do this we undertake a systematic comparison of a penalty based on the cartel overcharge with...

A recent literature review conducted by the World Bank provides evidence that there are significant gains from combating cartels for developing countries (Kitzmuller and Martinez Licetti, 2012). Besides increasing the cost of goods and services, cartels are associated with low labor productivity...