Houba, Harold; Motchenkova, Evgenia; Wen, Quan - 2014
granting full immunity to single-reporting firms achieves the largest reduction in the maximal cartel price. To reduce adverse … effects under both leniency programs, fine reductions to multiple-reporting firms should be moderate or absent. Finally, ex …-post leniency should provide less generous fine reductions to multiple-reporting firms, which is supported by the current practice …