Research-and-development-driven industries tend to be concentrated, and the U.S. seed industry is no exception. Concerns about the presence and use of market power in such industries are not rare since products are differentiated. The balance between firm profits and investments in product...

In this paper, we estimate quantitatively the determinants of variation in administrative fines imposed on companies by the European Commission for price-fixing violations. Estimates from our behavioral model provide the first direct test of the predictive power of the optimal deterrence theory...

Books reviewed: Kumbhakar, S.C., and C.A.K. Lovell. Stochastic Frontier Analysis Lauck, Jon. American Agriculture and the Problem of Monopoly: The Political Economy of Grain Belt Farming, 1953-1980 Maki, Wilbur R., and Richard W. Lichty. Urban Regional Economics: Concepts, Tools, Applications...

For criminal violations of the Sherman Act, although guided by federal sentencing guidelines, U.S. Department of Justice has great latitude in recommending corporate cartel fines to the federal courts, and its recommendations are nearly always determinative. In this paper, we analyze the...