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 …

This is a survey of the economic principles that underlie antitrust law and how those principles relate to competition … policy. We address four core subject areas: market power, collusion, mergers between competitors, and monopolization. In each … central features of antitrust policy. Our objective is to foster the improvement of legal regimes and also to identify topics …

formation, and discusses how corporate governance and firm agency problems affect optimal law enforcement against cartels, both … in terms of sanctions and leniency policies. Many of the conclusions appear applicable, with minor changes, to non-antitrust … forms of collusion, such as collusion between auditors and management, and more generally to corporate and organized crime. …

Leniency programs reduce sanctions for law violators that self-report. We focus on their ability to deter cartels and … agent that defects from fines and from other agents' punishment; and (b) by increasing the riskiness of crime/collusion, in …

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 … inffective; it may even increase collusion. Increasing the probability of an investigation at low levels does not increase …

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 … the much-discussed instrument of ministerial approval under Section 42 GWB by a regulation on the exemption of cartels …

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 … the much-discussed instrument of ministerial approval under Section 42 GWB by a regulation on the exemption of cartels …