antitrust regulation on the endogenous maximal-sustainable cartel price. This impact depends upon industry characteristics … including its cartel culture. Our analysis disentangles the effects of traditional antitrust regulation and the leniency program …

We analyze maximal cartel prices in infinitely-repeated oligopoly models under leniency where fines are linked to … collusion. We introduce cartel culture that describes how likely cartels persist after each conviction. Our analysis … disentangles the effects of traditional antitrust regulation, leniency, and cartel strategies. Without rewards to the strictly …

common beliefs and the existing literature, that conspirators often apply for leniency long after a cartel collapses. We …

cartel formation, cartel stability and cartel recidivism. The program leads to lower prices for three reasons. First, non …-cooperators are more persistent in their behavior which effectively blocks cartel formation in their respective groups. Second …, members of groups that do form a cartel defect more often thus reducing the average cartel lifetime. Third, the difference …

Research on cartel inspection has considered dynamic behaviors of firms but not of the regulator. The current paper … allows the antitrust authority to choose the level of cartel monitoring intensity and its dynamic patterns. Specifically, we … compare stationary monitoring policies with "switching" policies that randomize cartel detecting probabilities over time with …

pay reduced fines. This paper connects this potential adverse effect to the number of firms involved in the cartel …

The literature on cartel stability sidelines antitrust policy, whereas the literature on antitrust policy tends to … neglect issues of cartel stability. This paper attempts to connect these two interrelated aspects in the context of an … augmented quantity leadership model. The cartel is the Stackelberg quantity leader and the fringe firms are in Cournot …

cartel, a group of competing fringe firms, and a welfare maximizing antitrust authority. In existing models of cartel … actors. The cartel is the Stackelberg quantity leader and the fringe firms are in Cournot competition with respect to the …

by the antitrust agency. We develop a dynamic model in which an incumbent cartel decides whether or not to voluntarily … dissolve the cartel based on the observed profit and the antitrust agency’s cartel deterrence index when there is leniency … cartel detection and prosecution across industries. Based on the market structure such as the concentration level, demand …

detecting and deterring cartels. As a supplementary analysis, the US leniency is studied. I discuss a dynamic model of cartel … formation and dissolution to illustrate how changes in antitrust policies and economic conditions might affect cartel duration … heterogeneity of cartels and the time-varying policy impacts suggested by theory. Contrary to earlier studies, my statistical tests …