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What Do We Know about the Effectiveness of Leniency Policies? A Survey of the Empirical and Experimental Evidence

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Abstract

Over the last decade a large body of economic research has emerged that has sought to empirically test the effectiveness of leniency policies as tools to enhance the detection, prosecution and deterrence of cartel conduct. This research has considerable potential value in assisting competition authorities design optimal policies by having a better understanding of the impact that such policies, their specific features and manner of administration, have on the behaviour of cartel participants. Some researchers have taken the approach of testing empirically the effects of actual policies – predominantly those administered by the United States Department of Justice (USDOJ) and the European Commission (EC) – while others have tested different hypothetical policies in the lab. This section reviews the key studies which have been undertaken to date, it highlights the main findings and compares their results. After appreciating the main contributions and limitations of these studies, it concludes with a general assessment and an agenda for future research.

Suggested Citation

  • Marvao, Catarina & Spagnolo, Giancarlo, 2014. "What Do We Know about the Effectiveness of Leniency Policies? A Survey of the Empirical and Experimental Evidence," SITE Working Paper Series 28, Stockholm School of Economics, Stockholm Institute of Transition Economics.
    • Handle: RePEc:hhs:hasite:0028
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    Cited by:

    1. Maximilian Andres & Lisa Bruttel & Jana Friedrichsen, 2019. "The Effect of a Leniency Rule on Cartel Formation and Stability: Experiments with Open Communication," Discussion Papers of DIW Berlin 1835, DIW Berlin, German Institute for Economic Research.
    2. Benjamin Florian Siggelkow & Jan Trockel & Oliver Dieterle, 2018. "An inspection game of internal audit and the influence of whistle-blowing," Journal of Business Economics, Springer, vol. 88(7), pages 883-914, September.
    3. Andres, Maximilian & Bruttel, Lisa & Friedrichsen, Jana, 2021. "The leniency rule revisited: Experiments on cartel formation with open communication," International Journal of Industrial Organization, Elsevier, vol. 76(C).
    4. Umut Aydin & Nicolás Figueroa, 2019. "The Chilean Anti-cartel Experience: Accomplishments and Challenges," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 54(2), pages 327-352, March.

    More about this item

    Keywords

    Cartels; competition policy; Leniency Programme;
    All these keywords.

    JEL classification:

    • D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection
    • K21 - Law and Economics - - Regulation and Business Law - - - Antitrust Law
    • K42 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Illegal Behavior and the Enforcement of Law
    • L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
    • L40 - Industrial Organization - - Antitrust Issues and Policies - - - General
    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation

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