While private actions for damages by customers against price-cartels receive much attention, the treatment of other … to a downstream price cartel. First, we show that such suppliers incur losses driven by a direct quantity, a price and a … residual demand estimation that allows to quantify all determinants of cartel suppliers’ damages, thereby showing that supplier …

Punishment causes reputational losses in addition to more tangible losses. Lowering the probability of punishment … the certainty rather than the severity of punishment even absent risk-seeking offenders (positive), which causes extreme … optimal enforcement is 'anti-Beckerian': Punishment is symbolic and detection costs are incurred solely to provide …

reputational punishment, the effect of the cartel fine steps in … cartel fines) and a more direct measure of reputational sanctions, harnessing recent developments in opinion mining. We use … of the reputational sanction. As a demonstration, we combine an event study approach, sentiment analysis, and econometric …