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Cartel overcharges and the deterrent effect of EU competition law

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  • Smuda, Florian

Abstract

This paper examines cartel overcharges for the European market. Using a sample of 191 overcharge estimates and several parametric and semi-parametric estimation procedures, the impact of different cartel characteristics and the market environment on the magnitude of overcharges is analyzed. The mean and median overcharge rates are found to be 20.70 percent and 18.37 percent of the selling price and the average cartel duration is 8.35 years. Certain cartel characteristics and the geographic region of cartel operation influence the level of overcharges considerably. Furthermore, empirical evidence suggests that the currently existing fine level of the EU Guidelines is too low to achieve optimal deterrence. --

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Paper provided by ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research in its series ZEW Discussion Papers with number 12-050.

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Date of creation: 2012
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Handle: RePEc:zbw:zewdip:12050

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Keywords: cartels; overcharges; Europe; fines; deterrence; damages;

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  1. Powell, James L., 1984. "Least absolute deviations estimation for the censored regression model," Journal of Econometrics, Elsevier, vol. 25(3), pages 303-325, July.
  2. Yuliya Bolotova & John M. Connor & Douglas J. Miller, 2007. "Factors influencing the magnitude of cartel overcharges: An empirical analysis of food-industry cartels," Agribusiness, John Wiley & Sons, Ltd., vol. 23(1), pages 17-33.
  3. Powell, James L., 1986. "Censored regression quantiles," Journal of Econometrics, Elsevier, vol. 32(1), pages 143-155, June.
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Cited by:
  1. Salvatore Piccolo & Giancarlo Spagnolo, 2014. "Debt, Managers and Cartels," CSEF Working Papers 365, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
  2. Hüschelrath, Kai & Peyer, Sebastian, 2013. "Public and private enforcement of competition law: A differentiated approach," ZEW Discussion Papers 13-029, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.

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