competitive advantage in only one of them. An international cartel can either shut down trade and manufacture both goods …. Despite the cartel's exploitation of its market power, it can improve national welfare by generating efficiency gains. There …

. A key feature of the model is that cartel discipline is endogenous. Thus, markets that appear segmented are … strategically linked via the incentive compatibility constraint. Importantly, trade costs affect cartel shipments and welfare not … costs exert a negative and significant effect on cartel discipline. In turn, cartel discipline has a negative and …

authorities after January 1990. The median cartel had five corporate members and generated $1.2 billion in sales during the … penalties, if imposed at maximum levels, would extract about 12 times cartel overcharges, a level sufficient to deter most firms … from forming or joining a cartel. However, applying optimal deterrence concepts to the characteristics of modern …

. We show that a social planner would further restrict trade than the perfect cartel would, and how the socially optimal …

synergies being internalized by cartel formation. The main intuition is that the cartel has an incentive to contract output and … that the firms outside the cartel react to this by expanding output. If the outsiders are more efficient than the cartel …

We consider an international cartel whose members interact repeatedly in their own as well as in third …-country segmented markets. Cartel discipline-an inverse measure of the degree of competition between firms-is endogenously determined by … the cartel's incentive compatibility constraint (ICC), which links strategically markets that are seemingly unrelated …

We investigate cartelists’ merger behavior using European Commission (EC) cartel decisions over a 28-year span and … few particular industries and usually include only a minority of the cartel participants. The EC’s leniency programs … expedite mergers. The EC’s cartel settlement procedure delays merger. After cartel dissolution, co-conspirators merge at a …

We investigate cartelists' merger behavior using European Commission (EC) cartel decisions over a 28-year span and … in a few particular industries and usually include only a minority of the cartel participants. The EC's leniency program … appears to expedite mergers, while the EC's cartel settlement procedure appears to delay mergers. After cartel dissolution, co …