Corporate governance and competition law generate divergent incentives in the organization. This paper confronts these regulating tools in a gametheoretical approach of collusive behaviors in vertical organizations

The value of sales of an undertaking infringing antitrust law is a key determinant of the size of the fine levied by a competition authority. European competition authorities rely only on the turnover the undertaking receives from the products in relation to which the infringing conduct...

The determination of optimal fines to deter the formation or continuation of cartels is a major objective of competition policy. Several recent publications have suggested that the recent fines imposed by the European Commission are too low to be dissuasive and should therefore be substantially...