We analyze maximal cartel prices in infinitely-repeated oligopoly models under leniency where fines are linked to … collusion. We introduce cartel culture that describes how likely cartels persist after each conviction. Our analysis … disentangles the effects of traditional antitrust regulation, leniency, and cartel strategies. Without rewards to the strictly …

We analyze how leniency affects cartel pricing in an infinitely-repeated oligopoly model where the fine rates are … we focus on the worst possible outcome. We investigate the maximal cartel price, the largest price for which the … conditions for sustainability hold. We analyze how the maximal cartel price supported by different cartel strategies adjusts in …

antitrust regulation on the endogenous maximal-sustainable cartel price. This impact depends upon industry characteristics … including its cartel culture. Our analysis disentangles the effects of traditional antitrust regulation and the leniency program …

-stage cartel formation experiment where multiple ringleaders may emerge. Although theory predicts that cartels will always be …This paper experimentally analyzes the cartel coordination challenge induced by the discrimination of cartel … ringleaders in leniency policies. Ringleaders often take a leading role in the coordination and formation of a cartel. A leniency …

-stage cartel formation experiment where multiple ringleaders may emerge. Although theory predicts that cartels will always be …This paper experimentally analyzes the cartel coordination challenge induced by the discrimination of cartel … ringleaders in leniency policies. Ringleaders often take a leading role in the coordination and formation of a cartel. A leniency …

cartel fines on either revenue, profit, or price overcharge influences cartel and market prices, as well as cartel incidence … in market prices across treatments is fully driven by cartel prices. While these results align with the theoretical … predictions, cartel incidence remains unchanged across regimes. Our results suggest competition authorities could improve …

innocuous communication and communication about a cartel, sanctioning only the latter. To this aim, we introduce a participant …

cartel formation, cartel stability and cartel recidivism. The program leads to lower prices for three reasons. First, non …-cooperators are more persistent in their behavior which effectively blocks cartel formation in their respective groups. Second …, members of groups that do form a cartel defect more often thus reducing the average cartel lifetime. Third, the difference …

experiment. Based on chat communication content and price setting behavior, this authority judges whether firms formed a cartel …

that expanding rights of action has on leniency applications, this Article employs a game-theory model first created by …