: subjects use costly fines as (altruistic) punishments. Leniency further increases deterrence, but stabilizes surviving cartels …, deterrence is unaffected but prices grow. Differences between treatments in Stockholm and Rome suggest culture may affect optimal …

, Competition Policy Indexes, or CPIs. The CPIs measure the deterrence properties of a competition policy in a jurisdiction, where …

This paper provides a comprehensive discussion of the deterrence properties of a competition policy regime. On the … deterrence: 1) sanctions and damages; 2) financial and human resources; 3) powers during the investigation; 4) quality of the law …; 5) independence; and 6) separation of power. We then discuss how to measure deterrence. We review the literature that …