A number of recent papers have proposed that a pattern of isolated winning bids may be associated with collusion. In … contrast, others have suggested that bid clustering, especially of the two lowest bids, is indicative of collusion. In this …, whose asphalt industry has not been the subject of collusion allegations. Our findings provide causal evidence that the …

There is a growing concern that minority shareholding (MS) in rival firms may facilitate collusion. To examine this …

collude. We consider a profit based fine as opposed to a delegation based fine, with the latter targeting the manager in a … more direct way. Under the assumption of revenue equivalence, we find that the delegation based fine, although distortive … deterrence and output distortion can arise. However, if the antitrust authority focuses on consumer surplus, then the delegation …