We analyze how leniency affects cartel pricing in an infinitely-repeated oligopoly model where the fine rates are … we focus on the worst possible outcome. We investigate the maximal cartel price, the largest price for which the … conditions for sustainability hold. We analyze how the maximal cartel price supported by different cartel strategies adjusts in …

antitrust regulation on the endogenous maximal-sustainable cartel price. This impact depends upon industry characteristics … including its cartel culture. Our analysis disentangles the effects of traditional antitrust regulation and the leniency program …

We analyze maximal cartel prices in infinitely-repeated oligopoly models under leniency where fines are linked to … collusion. We introduce cartel culture that describes how likely cartels persist after each conviction. Our analysis … disentangles the effects of traditional antitrust regulation, leniency, and cartel strategies. Without rewards to the strictly …

-stage cartel formation experiment where multiple ringleaders may emerge. Although theory predicts that cartels will always be …This paper experimentally analyzes the cartel coordination challenge induced by the discrimination of cartel … ringleaders in leniency policies. Ringleaders often take a leading role in the coordination and formation of a cartel. A leniency …

-stage cartel formation experiment where multiple ringleaders may emerge. Although theory predicts that cartels will always be …This paper experimentally analyzes the cartel coordination challenge induced by the discrimination of cartel … ringleaders in leniency policies. Ringleaders often take a leading role in the coordination and formation of a cartel. A leniency …

innocuous communication and communication about a cartel, sanctioning only the latter. To this aim, we introduce a participant …

experiment. Based on chat communication content and price setting behavior, this authority judges whether firms formed a cartel …

whistle-blower may apply for leniency. The results show that leniency does not affect the probability that a cartel forms, but … is effective in exposing cartels and thereby inhibiting cartel success. Higher fines are more effective, but allowing …

development of the innovative and modern leniency policy. Following the examination of the main conditions and reasons for cartel …