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...

Beaucoup de pays ont adoptés des systèmes de permis de conduire à points où les infractions au code de la route font l'objet d'un décompte de points, avec une grande variété de mises en oeuvre. Le retrait de permis est une sanction non-monétaire qui permet au gouvernement de frapper...

This paper presents a model of penalties that reconciles the conflicting accounts of optimal punishment by Becker, who argued penalties should internalize social costs, and Posner, who suggested penalties should completely deter offenses. The model delivers specific recommendations as to when...