We re-examine tacit collusion under a simple punishment rule in which firms match any lower price by their rivals, but …

that, when the limited liability constraint binds, there exists an infinity of multi-period punishment paths that permit … punishment profile can take the form of a price asymmetric cycle. We characterize the situations in which a longer punishment …

While price-fixing cartel prosecutions have received significant attention, the policy determinants and the political ….S. antitrust cartel prosecutions during the period 1969-2013. This period has seen substantive policy innovations with increasing … penalties related to fines and jail terms. There appear to be four distinct cartel policy regimes: pre-1978, 1978-1992, 1993 …

-matching punishment strategy, we demonstrate that price rigidity can occur in the best collusive subgame perfect Nash equilibrium for …

, we show that the stick-and-carrot punishment à la Abreu (1986) may not be globally optimal. We prove our result by …-and-carrot globally optimal punishment for large cartels, and fully characterise it. Then, we show that for mall cartels, global …

This chapter sets out the principles and emerging practice governing cartel damages in the EU and UK. It identifies the … have been be used to estimate overcharges, volume effects, and duration of a cartel. A version of the chapter is to appear …