being detected, then a higher general punishment level can increase the crime level. In the context of antitrust enforcement …, the model shows that competition authorities who attempt to fight cartels by means of tougher sanctions for all offenders … may actually lead cartels to increase their overcharge when leniency programs are in place. …

Severe limitations on antitrust enforcement officials’ knowledge and the potential impact of ill-advised investigations … single-firm conduct. Although it is common to depict antitrust enforcement as protecting market competition while other forms … of regulation are seen as intrusions (justifiable or not) into market operation, antitrust enforcement has …

The study analyzes the impact of European antitrust enforcement on industry performance measured as competition … productivity. However, the impact di ffers with the anticompetitive economic conduct. Cartels behave as theoretically predicted …, with positive and negative effi ciency eff ects of antitrust enforcement depending on the exclusivity of the vertical …

The study analyzes the impact of European antitrust enforcement on industry performance measured as competition … productivity. However, the impact di ffers with the anticompetitive economic conduct. Cartels behave as theoretically predicted …, with positive and negative effi ciency eff ects of antitrust enforcement depending on the exclusivity of the vertical …