considerations, and minimum fines. Bankruptcy considerations limit maximum fines, ensure abnormal cartel profits and impose a … challenge for optimal antitrust enforcement. We integrate the mentioned legal principles into an infinitely-repeated oligopoly … lower price by making it more attractive than collusion on higher prices. For a range of low cartel prices, the fine is set …

In this paper we set out the welfare economics based case for imposing cartel penalties on the cartel overcharge rather … of a penalty based on the cartel overcharge with three other penalty regimes: fixed penalties; penalties based on revenue … conjunction with the above result, our analysis of cartel stability (and thus deterrence), shows that penalties based on the …

agreements - lead to higher prices in a Bertrand oligopoly could be because of a selection effect: decision-makers who are …

Multiple Cournot oligopoly experiments found more collusive behavior in markets with fewer firms (Huck et al., 2004 …