Leniency programs have become widespread and are generally quite active as reflected in the number of applications. What is not well-understood is how they affect the number of cartels. This paper develops and explores a theoretical framework to help understand when leniency programs are likely...

Non-equilibrium dynamics in the evolution of industries -- Models of industry dynamics -- A dynamic model of Schumpeterian competition -- Growing an industry in silico -- Shakeouts : limited foresight, technological shocks, and transient industry dynamics -- Industry dynamics in the steady state...