affected firms' margins and merger activity. We find that these programs, which give amnesty to cartel conspirators that … merger review process might be a prerequisite for strengthening anti-collusion enforcement …

In this paper, we study the impact of a merger on collusion depending on the endowment of capital asset among firms. We … show that the merger makes the collusion easier to sustain when asymmetric capital stock combines with less efficient … optimal threshold of asymmetry among insiders and outsiders such as a merger has pro-competitive effects and we compare this …