During recent decades banking markets have changed considerably. Nevertheless, banking antitrust analysis continues to follow the same basic philosophy laid down 40 years ago by the Supreme Court. Does the change in banking markets imply the need to alter antitrust analysis in banking? This...

This paper studies the effects of leniency programs on the behavior of firms participating in illegal cartel agreements.The main contribution of the paper is that we consider asymmetric firms.In general, firms differ in size and operate in several different markets.In our model, they form a...

This article is devoted to the legitimation and application of the standards of ex post and ex ante by courts and the executive authorities in the sphere of competition regulation. The postulates of ex post and ex ante are considered as legal principles. The principle of ex post is intended...

This paper studies the application of leniency programs. An analysis of the structure and design of leniency programs and existing literature raises a new question: Are leniency programs effective, in the sense that they deter cartels from formation, in asymmetrical markets? A game theoretical...

Cartel ringleaders make significant contributions to enabling illegal collusive agreements to function. According to US legislation, ringleaders are excluded from corporate leniency programs. Since 2002, under EU regulations, ringleaders may qualify for a reduction of fines. To date, both...

Purpose – The anti‐monopoly law (AML) of the People's Republic of China (PRC), which had undergone ten years of debate among the whole spectrum of China's society, was finally issued on August 30, 2007 and took effect on August 1, 2008. This paper seeks to assess the impact of these new...