Competition agencies have the power to close an antitrust case in return for the commitment to end the alleged infringement. We examine how such a procedure affects deterrence and consumer welfare. We first show that it lowers the deterrent effect of competition policy. However, under asymmetric...

We study horizontal partial acquisitions in an oligopolistic industry in the absence of synergies. Contrary to existing results, we find that a dominant shareholder may choose to acquire shares in a competitor although the aggregate profit of the group of firms under his control, and even the...

We analyze a situation where an antitrust authority delegates to an audit inspectorthe mission of gathering the su¢cient information to condemn a cartel. The authorityhas two instruments at her disposal: rewarding the inspector with a proportion of thecollected …ne or providing him with...