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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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    File URL: http://www.sciencedirect.com/science/article/B6V8P-4YH99JJ-1/2/5115fb3014579aa8b2b135d09c5b31f4
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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. 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.
    2. Fershtman, C. & Pakes, A., 1998. "A Dynamic Oligopoly with Collusion and Price Wars," Papers 26-98, Tel Aviv.
    3. Spagnolo, Giancarlo, 2006. "Leniency and Whistleblowers in Antitrust," CEPR Discussion Papers 5794, C.E.P.R. Discussion Papers.
    4. Motta, M. & Polo, M., 1999. "Leniency Programs and Cartel Prosecution," Economics Working Papers eco99/23, European University Institute.
    5. David Genesove & Wallace P. Mullin, 2001. "Rules, Communication, and Collusion: Narrative Evidence from the Sugar Institute Case," American Economic Review, American Economic Association, vol. 91(3), pages 379-398, June.
    6. Aubert, Cecile & Rey, Patrick & Kovacic, William E., 2006. "The impact of leniency and whistle-blowing programs on cartels," International Journal of Industrial Organization, Elsevier, vol. 24(6), pages 1241-1266, November.
    7. 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.
    8. Nathan H. Miller, 2009. "Strategic Leniency and Cartel Enforcement," American Economic Review, American Economic Association, vol. 99(3), pages 750-68, June.
    9. Joe Chen & Joseph E. Harrington, Jr., 2005. "The Impact of the Corporate Leniency Program on Cartel Formation and the Cartel Price Path," CIRJE F-Series CIRJE-F-358, CIRJE, Faculty of Economics, University of Tokyo.
    10. 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.
    11. Myong-Hun Chang & Joseph E. Harrington, Jr., 2008. "The Impact of a Corporate Leniency Program on Antitrust Enforcement and Cartelization," Economics Working Paper Archive 548, The Johns Hopkins University,Department of Economics.
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