We analyze how leniency affects cartel pricing in an infinitely-repeated oligopoly model where the fine rates are … linked to illegal gains and detection probabilities depend on the degree of collusion. A novel aspect of this study is that … we focus on the worst possible outcome. We investigate the maximal cartel price, the largest price for which the …

This special issue marks the 25th anniversary of the introduction of a leniency program for antitrust in the EU and … theoretical, empirical, and experimental literature on corporate leniency programs for antitrust. …

.S. antitrust cartel prosecutions during the period 1969-2013. This period has seen substantive policy innovations with increasing …While price-fixing cartel prosecutions have received significant attention, the policy determinants and the political … preferences that guide such antitrust prosecutions remain understudied. We empirically examine the intertemporal shifts in U …