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This paper assesses what role product market competition and regulatory reforms may have played in the performance of … regulations inhibiting competition and barriers to trade amongst the lowest in the OECD. Nevertheless, there is scope for … improvement and the recent overhaul of competition legislation should help to further promote competition. Much progress has been …
Persistent link: https://www.econbiz.de/10005045973
bonds, and bank debentures were not traded actively during this period. After the formation of cartels of banks and …
Persistent link: https://www.econbiz.de/10010928791
An antitrust authority deters collusion using fines and a leniency program. Unlike in most of the earlier literature, our firms have imperfect cumulative evidence of the collusion. That is, cartel conviction is not automatic if one firm reports: reporting makes conviction only more likely, the...
Persistent link: https://www.econbiz.de/10011420625
The EU Leniency Programme (LP) aims to encourage the dissolution of existing cartels and the deterrence of future … cartels, through spontaneous reporting and/or significant cooperation by cartel members during an investigation. However, the …
Persistent link: https://www.econbiz.de/10012110654
has considerable potential value in assisting competition authorities design optimal policies by having a better …
Persistent link: https://www.econbiz.de/10012110655
sources of fine heterogeneity, data for EU and US cartels are used. Being the first reporter is shown to be correlated with … recidivism, leadership and other fine reductions. Some characteristics of the cartels where reporting occurred are also unveiled …. Identifying the characteristics of the reporting firms is vital to dissolve and dissuade cartels and the wider policy implications …
Persistent link: https://www.econbiz.de/10012110656
competition authorities around the world in their fight against cartels. Such policies have shown to be a powerful tool in …Cartels remain widespread and constitute a major problem for society. Leniency policies reduce or cancel the sanctions … convictions for the competition authority at the expense of reduced cartel deterrence and social welfare. Hence, it is vital for …
Persistent link: https://www.econbiz.de/10012110666
An antitrust authority deters collusion using fines and a leniency program. It chooses the probability of an investigation. Firms pick the degree of collusion: The more they collude, the higher are profits, but so is the probability of detection. Firms thus trade-off higher profits against...
Persistent link: https://www.econbiz.de/10012112083
I present the following proposal: information revealed during non-cartel investigations by competition law enforcement … investigate and prosecute cartels. Currently, in several jurisdictions, information acquired in, for example, a M&A investigation … cartels are actually prosecuted via this channel, the proposal has the likelihood of creating a meaningful deterrence effect …
Persistent link: https://www.econbiz.de/10010277361
With the implementation of the 7th Amendment to the German Act against Restraints of Competition (GWB) in 2005, the … exemption for so-called ministerial cartels under Section 8 GWB was discarded without replacement. Similar to the still existing … from the general ban on cartels under Section 1 GWB for "predominant reasons relating to the economy as a whole and the …
Persistent link: https://www.econbiz.de/10012264937