Legal opinion is divided on whether predicable sentences are a good thing for the administration of justice. In the case of cartel violations, both the United States and the EU have introduced guidelines for calculating fines that are intended to make fining decisions more transparent and to...

The idea that individuals adapt their behaviors in response to changes in incentive systems is fundamental to most economic analysis. This paper incorporates the concept of price discovery costs into the incentive theory to offer a theoretical model and empirical evidence on the differential...

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...

Using the overcharge estimates for 395 cartel episodes, we evaluate the impact of cartel characteristics on the size of overcharges imposed by cartels in different geographic markets and during six antitrust law regimes starting from the 18th century. We find that the average overcharge imposed...

Using the data on 238 cartelized markets we evaluate econometrically the impact of cartel characteristics as well the market and legal environment of cartel operation on cartel stability. The latter is measured as the expected number of repeated attempts to form a cartel in the same product...

This paper considers estimation and inference for the multinomial response model in the case where endogenous variables are included as arguments of the unknown link function. Semiparametric estimators are proposed that avoid the parametric assumptions underlying the likelihood approach as well...

Resource redeployment may occur when a firm exits from one line of business and enters another. We suggest that when multiproduct firms identify opportunities in new high-growth markets, their entry will occur alongside exit from low-growth markets when the firm is resource-constrained. For our...

The first objective of the dissertation is to test for price asymmetry in several important agricultural product markets: beef, pork, poultry, eggs, potatoes, tomatoes and lemons. Studies by other economists suggest that evidence on the presence of asymmetric price adjustment is mixed. This...

Little consideration has been given to the question of stress among trade union officers. Some explanations for this are offered and, on the basis of pilot research carried out in the north east of England, class and gender are revealed as crucial variables is shown both in terms of stressors...

Stress management programmes for trade union officials still remain underdeveloped. This article seeks to highlight some of the methodological problems in trying to mount such programmes within the political context of contemporary trade unionism. The author argues that a much more...