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Factors influencing the magnitude of cartel overcharges: An empirical analysis of food-industry cartels

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  • Yuliya Bolotova

    (Department of Agricultural Economics and Rural Sociology, University of Idaho, Moscow, ID 83844-2337)

  • John M. Connor

    (Department of Agricultural Economics, Purdue University, West Lafayette, IN 47907-2056)

  • Douglas J. Miller

    (Department of Economics, University of Missouri, Columbia, MO 65211-6040)

Abstract

Using overcharge estimates for 395 cartel episodes from the 18 th to the 21 st century, we evaluate the impact of cartel characteristics on the size of overcharges imposed by cartels across several geographic regions and antitrust law regimes. The results of our study have important policy implications. We find that the average overcharge imposed by cartels in our sample is 19 percent with the median of 16 percent of the selling price. Food industry cartels achieve lower overcharges than domestic cartels. Longer cartel episodes generate higher levels of overcharges. Cartels that were found or pled guilty achieve approximately the same levels of overcharges as legal cartels. [JEL classifications: L1, L2, L4, L6]. © 2007 Wiley Periodicals, Inc. Agribusiness 23: 17-33, 2007.

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File URL: http://hdl.handle.net/10.1002/agr.20111
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Bibliographic Info

Article provided by John Wiley & Sons, Ltd. in its journal Agribusiness.

Volume (Year): 23 (2007)
Issue (Month): 1 ()
Pages: 17-33

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Handle: RePEc:wly:agribz:v:23:y:2007:i:1:p:17-33

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Web page: http://onlinelibrary.wiley.com/journal/10.1002/(ISSN)1520-6297

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  1. John M. Connor, 2004. "Global Antitrust Prosecutions of Modern International Cartels," Journal of Industry, Competition and Trade, Springer, Springer, vol. 4(3), pages 239-267, 09.
  2. Dick, Andrew R, 1996. "When Are Cartels Stable Contracts?," Journal of Law and Economics, University of Chicago Press, University of Chicago Press, vol. 39(1), pages 241-83, April.
  3. John M. Connor, 1998. "The global citric acid conspiracy: Legal-economic lessons," Agribusiness, John Wiley & Sons, Ltd., John Wiley & Sons, Ltd., vol. 14(6), pages 435-452.
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Cited by:
  1. Gregory Werden, 2008. "Assessing the Effects of Antitrust Enforcement in the United States," De Economist, Springer, Springer, vol. 156(4), pages 433-451, December.
  2. Frank Maier-Rigaud & Ulrich Schwalbe, 2013. "Quantification of Antitrust Damages," Working Papers, IESEG School of Management 2013-ECO-09, IESEG School of Management.
  3. Hoekman, Bernard & Martin, Will, 2012. "Reducing distortions in international commodity markets : an agenda for multilateral cooperation," Policy Research Working Paper Series 5928, The World Bank.
  4. Smuda, Florian, 2012. "Cartel overcharges and the deterrent effect of EU competition law," ZEW Discussion Papers, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research 12-050, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  5. Bolotova, Yuliya V., 2009. "Cartel overcharges: An empirical analysis," Journal of Economic Behavior & Organization, Elsevier, Elsevier, vol. 70(1-2), pages 321-341, May.

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