An experiment is conducted were subjects interact repeatedly to examine the effect of a particular leniency program on … between the agreed-upon price and the undercutting price is larger. The leniency program does not however affect the …

Cartels can severely harm social welfare. Competition authorities introduced leniency rules to destabilize existing … functioning cartels are unobservable. Existing experimental studies confirm that a leniency rule indeed reduces cartelization. We … experiment. Based on chat communication content and price setting behavior, this authority judges whether firms formed a cartel …

cartels. In contrast to existing experimental studies, we find that a leniency rule does not affect cartelization. We discuss …The experimental literature on antitrust enforcement provides robust evidence that communication plays an important … role for the formation and stability of cartels. We extend these studies through a design that distinguishes between …

-stage cartel formation experiment where multiple ringleaders may emerge. Although theory predicts that cartels will always be … ringleaders in leniency policies. Ringleaders often take a leading role in the coordination and formation of a cartel. A leniency … policy which grants amnesty to all "whistleblowers" except for ringleaders may therefore reduce the incentive to become a …

-stage cartel formation experiment where multiple ringleaders may emerge. Although theory predicts that cartels will always be … ringleaders in leniency policies. Ringleaders often take a leading role in the coordination and formation of a cartel. A leniency … policy which grants amnesty to all "whistleblowers" except for ringleaders may therefore reduce the incentive to become a …

We study the timing of leniency applications using a novel application of multi-spell discrete-time survival analysis … for a sample of cartels prosecuted by the European Commission between 1996 and 2014. The start of a Commission … investigation does not affect the rate by which conspirators apply for leniency in the market investigated, but increases the rate …

An antitrust authority deters collusion using fines and a leniency program. It chooses the probability of an … detection. Firms thus trade-off higher profits against higher expected fines. If firms are sufficiently patient, leniency is …

-2003, and 2004-2013. Our empirical estimates show significant variation in the number of cartels prosecuted and the penalties … imposed across the policy regimes. The more recent regimes are characterized by far fewer cartels prosecuted, but with … cartels to larger and multinational firms. In terms of political effects, our results reveal no clear inter-political party …

Cartels can severely harm social welfare. Competition authorities introduced leniency rules to destabilize existing … functioning cartels are unobservable. Existing experimental studies confirm that a leniency rule indeed reduces cartelization. We … experiment. Based on chat communication content and price setting behavior, this authority judges whether firms formed a cartel …

cartels. In contrast to existing experimental studies, we find that a leniency rule does not affect cartelization. We discuss …The experimental literature on antitrust enforcement provides robust evidence that communication plays an important … role for the formation and stability of cartels. We extend these studies through a design that distinguishes between …