This paper undertakes a statistical analysis of the fines imposed on 168 firms in 22 cartels prosecuted by European Commission under the 2006 Penalty Guidelines, leniency notice, settlement process, and the courts on appeals over the period 2007 to 2010. It looks closely at how the Commission...

The concurrence of recession and extended length of proceedings has led to a massive increase since 2009 in the number of applications to the European Commission for a reduction of a cartel fine due to an enterprise's "inability to pay." This raises the fundamental question whether the "death...

To encourage private actions for damages in antitrust cases some jurisdictions subtract a fraction of the redress from the fine. We analyze the effectiveness of this policy. Such a rebate does not encourage settlement negotiations that would otherwise not occur. If, however, the parties settle...

We review current methods for calculating fines against cartels in the US and EU, and simulate their deterrence effects under different assumptions on the legal and economic environment. It is likely that European fines have not had significant deterrence effects before leniency programs were...

This paper examines the law, practice and evidence on fines for price-fixing under European competition law. It undertakes the first comprehensive quantitative analysis of fines imposed on cartels by the European Commission. Based on an analysis of 30 fully reported cartel decisions, and appeals...

Based on an analysis of cartel prosecutions since 2007, this article assesses the way the European Commission has built up its fines in practice. The fines are compared with those imposed by the European Commission over the period from 1999 to 2006. The main findings are that, while fines have...