We analyze collusion under demand uncertainty by cartels such as OPEC that care about the utility derived from profits by citizens. When citizens are sufficiently risk averse and fixed operating costs are non-trivial, it becomes difficult for cartels to collusively restrict output both when...

It is important for the Government to keep the market in check and to maintain a standard of conduct where it promotes a healthy competition between all the players in the market. It is here where the Competition Commission of India (CCI) comes into play as the major regulator who lays down the...

Using the overcharge estimates for 395 cartel episodes, we evaluate the impact of cartel characteristics on the size of overcharges imposed by cartels in different geographic markets and during six antitrust law regimes starting from the 18th century. We find that the average overcharge imposed...