clandestine cartels. We also find that fines complement other antitrust penalties: the number of months that a corporate defendant … Justice has great latitude in recommending corporate cartel fines to the federal courts, and its recommendations are nearly … Antitrust Division of the DOJ on 124 corporate participants of hard-core global cartels. Our behavioral model provides the first …

-core cartels. We design a mechanism to form a hard-core cartel, which allows that multiple ringleaders emerge. Ringleaders often … take a leading role in the coordination and formation of hard-core cartels. A leniency policy which grants amnesty to all … "whistleblowers'" except for ringleaders may therefore reduce the incentive to become a ringleader and disrupt cartel formation. Yet …

. I find that the severity of the cartel fines relative to affected sales is about double that of the fines decided under … contemporaneous U.S. DOJ criminal fines. Nearly all recent cartel decisions reward one or more participants with full or partial … leniency. There is no evidence that leniency discounts have led to larger percentage reductions in cartel-wide fines. Moreover …

absolute Commission fine. Independent variables fall into four groups: the extent of the cartel’s antitrust injuries; factors …-specific characteristics. The predictive power of the final model is quite satisfactory. We find that EC corporate cartel fines generally …In this paper, we estimate quantitatively the determinants of variation in administrative fines imposed on companies by …

results show that on average these cartel overcharges are significantly larger than the criminal fines of either the European …The purpose of this paper is to examine whether the current cartel fine levels of the European Union and the United … United States cartels are assembled and examined (these cartels overcharged an average of 18% to 37%, depending upon the data …

. I find that the severity of the cartel fines is more than five times higher than those figured under the previous 1998 … Guidelines. For the first time in antitrust history, I believe we are observing fines that regularly disgorge the monopoly … reductions in cartel-wide fines. Moreover, despite more severe fines, the share of defendants requiring reductions under the …

estimate restitution and dissuasive fines to be imposed on cartels from microeconomic variables on a case by case basis, this … paper compares the level of fines actually inflicted to cartels participants to the illicit gain captured by the firms and … estimates a range of restitution and dissuasive fines in each case. Our results show that fines imposed against cartels by the …

on registered horizontal cartels to learn about their inner working. Applying content analysis to legally binding cartel … divide markets, and rely the least on information exchange and punishment. Price and payment condition cartels primarily aim …Cartels were legal to a large extent in Austria until the country’s EU Accession in 1995. We examine archival material …