A corporate leniency program provides relief from government penalties to the first member of a cartel to come forward and cooperate with the authorities. This study explores the incentives to apply for leniency when each cartel member has private information as to the likelihood that the...

Recent studies have claimed that states with initiatives systems of legislation use this more direct from of democracy to improve productive resource allocation. This paper compares the economic performance of states with initiatives to states that do not have initiatives. We first construct a...