Describes and analyzes the formation, operation, and impacts of modern global cartels. This book provides a picture of the economics, competition law and history of international price fixing. It assesses whether antitrust enforcement by the European Union, the United States, and other countries...

Many jurisdictions fine illegal cartels using penalty guidelines that presume an arbitrary 10% overcharge. This article surveys more than 700 published economic studies and judicial decisions that contain 2,041 quantitative estimates of overcharges of hard-core cartels. The primary findings are:...

This paper surveys published economic studies and judicial decisions that contain 1,040 quantitative estimates of overcharges of hard-core cartels. The primary finding is that the median long-run overcharge for all types of cartels over all time periods is 25.0%:18.8% for domestic cartels and...

We use extended ARCH and GARCH models to examine the differences in the behavior of the first two moments of the price distribution during collusive and competitive phases of two recently discovered conspiracies, citric acid and lysine. According to our results, the conspirators managed to raise...

There is currently a popular view that the world is undergoing profound changes in the fundamental relationships upon which it is organised. In particular, there is widespread talk of a ‘globalised' economy, facilitated by and associated with ‘new' technologies and practices. There is a...

The purpose of this article is to assess the efforts of the U.S. Department of Justice’s Antitrust Division (“DOJâ€Â) to detect and penalize criminal price fixing, which is nearly equivalent to prosecutions of hard-core cartel conduct. To do so, I...