We consider a principal — agent model in which a principal delegates monitoring of cheating individuals to an agent. The principal can observe only the number of detection, not how many cheaters are deterred by the actions of the monitor. We show that conviction numbers should not be used for...

We examine how executive compensation can be designed to motivate product market collusion. We look at the 2013 decision to close several regional offices of the Department of Justice, which lowered antitrust enforcement for firms located near these closed offices. We argue that this made...