In a cross-country study, we investigate how staggered passage of national leniency programs from 1990-2012 has affected firms' margins and merger activity. We find that these programs, which give amnesty to cartel conspirators that cooperate with antitrust authorities, reduced the gross margins...

The cartel leniency programs developed in the U.S. and in other jurisdictions around the world have been considered remarkably successful. A critical look at leniency programs, however, should give some pause, especially as leniency programs proliferate around the globe. First, the powerful...

The investigation and prosecution of all anticompetitive agreements between competitors or the so called cartels is a priority for the Spanish National Competition Authority (CNC). The Leniency Program, being one of the most effective tools in destabilizing and dismantling these anticompetitive...

En el presente escrito se expone como una realidad del mercado, la presencia de acuerdos restrictivos de la libre competencia. Se presentan las políticas de clemencia como instrumento efectivo del Derecho en el combate contra el Cartel y las prácticas colusorias. Se realiza un análisis...

The empirical assessment of leniency program (LP) in Russia shows the effects of changes in the rules on the behavior of market participants. In this paper we test hypotheses about LP enforcement against the characteristics of cartels: their subject, duration and the number of participants. We...