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Leniency and post-cartel market conduct: Preliminary evidence from parcel tanker shipping

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  • Asker, John
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    Abstract

    This paper provides preliminary observations from data involving a cartel in the international maritime shipping of chemicals. These data provides a setting in which to consider how the presence of a cartel affects market conduct following its dissolution and, in turn, how this might be affected by the obligations imposed on firms who seek leniency. The patterns in the data are consistent with cartel distortions persisting in the post-cartel period, possibly due to the presence of long-term contracts. An implication is that, in addition to terminating involvement in cartel activity, some social benefit may accrue from requiring firms seeking leniency to mitigate the harm caused by cartel actions.

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    Bibliographic Info

    Article provided by Elsevier in its journal International Journal of Industrial Organization.

    Volume (Year): 28 (2010)
    Issue (Month): 4 (July)
    Pages: 407-414

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    Handle: RePEc:eee:indorg:v:28:y:2010:i:4:p:407-414

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    Web page: http://www.elsevier.com/locate/inca/505551

    Related research

    Keywords: Shipping Bid rigging Ring Cartel Damages;

    References

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    1. Spagnolo, Giancarlo, 2006. "Leniency and Whistleblowers in Antitrust," CEPR Discussion Papers 5794, C.E.P.R. Discussion Papers.
    2. Chaim Fershtman & Ariel Pakes, 1999. "A Dynamic Oligopoly with Collusion and Price Wars," NBER Working Papers 6936, National Bureau of Economic Research, Inc.
    3. Genesove, David & Mullin, Wallace P, 2001. "Rules, Communication and Collusion: Narrative Evidence from the Sugar Institute Case," CEPR Discussion Papers 2739, C.E.P.R. Discussion Papers.
    4. Joseph E. Harrington, Jr & Joe Chen, 2005. "he Impact of the Corporate Leniency Program on Cartel Formation and the Cartel Price Path," Economics Working Paper Archive 528, The Johns Hopkins University,Department of Economics.
    5. Joseph E. Harrington, 2008. "OPTIMAL CORPORATE LENIENCY PROGRAMS -super-* ," Journal of Industrial Economics, Wiley Blackwell, vol. 56(2), pages 215-246, 06.
    6. William G. Christie & Paul H. Schultz, 1995. "Policy Watch: Did Nasdaq Market Makers Implicitly Collude?," Journal of Economic Perspectives, American Economic Association, vol. 9(3), pages 199-208, Summer.
    7. Joseph E Harrington Jr, 2002. "Post-Cartel Pricing during Litigation," Economics Working Paper Archive 488, The Johns Hopkins University,Department of Economics, revised Jun 2003.
    8. Motta, M. & Polo, M., 1999. "Leniency Programs and Cartel Prosecution," Economics Working Papers eco99/23, European University Institute.
    9. Nathan H. Miller, 2009. "Strategic Leniency and Cartel Enforcement," American Economic Review, American Economic Association, vol. 99(3), pages 750-68, June.
    10. Aubert, Cecile & Rey, Patrick & Kovacic, William E., 2006. "The impact of leniency and whistle-blowing programs on cartels," International Journal of Industrial Organization, Elsevier, Elsevier, vol. 24(6), pages 1241-1266, November.
    11. Lars-Hendrik R�ller & Frode Steen, 2006. "On the Workings of a Cartel: Evidence from the Norwegian Cement Industry," American Economic Review, American Economic Association, vol. 96(1), pages 321-338, March.
    12. Aubert, Cécile & Rey, Patrick & Kovacic, William E., 2006. "The impact of leniency and whistle-blowing programs on cartels," Economics Papers from University Paris Dauphine 123456789/13637, Paris Dauphine University.
    13. Graham, Daniel A & Marshall, Robert C & Richard, Jean-Francois, 1990. "Differential Payments within a Bidder Coalition and the Shapley Value," American Economic Review, American Economic Association, vol. 80(3), pages 493-510, June.
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    Cited by:
    1. Marvao, Catarina, 2014. "The EU Leniency Programme and Recidivism," SITE Working Paper Series 27, Stockholm Institute of Transition Economics, Stockholm School of Economics.

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