Conventionally, game theory predicts that the joint mixed strategy of players in a noncooperative game will satisfy … strategies not satisfying it are assigned probability zero. As an alternative, we recast the prediction problem of game theory as … theory, on specifying a set of "equilibrium" mixed strategies, with a new focus, on specifying a probability density over all …

Justice has great latitude in recommending corporate cartel fines to the federal courts, and its recommendations are nearly … direct test of the optimal deterrence theory of antitrust crimes.Regressions are fitted to a sample of the corporations that …-deterrence model is quite good. We find that U.S. corporate cartel fines are strongly directly related to economic injuries from …

This article distills insights about cartel formation from 41 cases prosecuted by the European Commission between 2001 … following potential causes for cartel formation: Changes in prices, demand and customer conduct, capacity utilization, increased … imports and entry by competitors, and events in the legal and regulatory environment of the firms. Cartel formation is not …