Our survey identified about 200 serious social-science studies of cartels which contained 674 observations of average overcharges. Our primary finding is that the median cartel overcharge for all types of cartels over all time periods has been 25%; 17-19% for domestic cartels, and 30-33% for...

The Federal Sentencing Guidelines provide for special treatment of hard-core cartel activity to ensure that penalties for antitrust crimes effectively deter and punish criminals. The U.S. Supreme Court’s transformational sentencing cases, however, have returned significant discretion to...