Houba, Harold; Motchenkova, Evgenia; Wen, Quan - In: Economics Bulletin 30 (2010) 3, pp. 2017-2027
We analyze the effectiveness of antitrust enforcement in repeated oligopoly models in which both fines and detection probabilities depend on the cartel price. Such fines reflect actual guidelines. Inspections based on monitoring of market prices imply endogenous detection probabilities. Without...