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Comment on “The Empirical Basis for Antitrust: Cartels, Mergers, and Remedies”

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  • John M. Connor
  • Robert H. Lande

Abstract

In this journal, James Langenfeld critically reviewed four of the present authors’ articles that analyze the size of cartel overcharges and their antitrust policy implications. In this comment, we explain why we believe Langenfeld errs in his criticism of our work. In particular, this comment discusses the variation in research quality of the sources used to compile a large sample of historical cartel overcharges; the advisability of trimming outliers or large estimates from the sample; alleged publication bias; why our 25% median estimate is much more likely to be correct than the US Sentencing Guideline’s 10% presumption; and the implications of the average cartel overcharges results for optimal deterrence and antitrust policy.

Suggested Citation

  • John M. Connor & Robert H. Lande, 2017. "Comment on “The Empirical Basis for Antitrust: Cartels, Mergers, and Remedies”," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 24(3), pages 329-338, September.
    • Handle: RePEc:taf:ijecbs:v:24:y:2017:i:3:p:329-338
    DOI: 10.1080/13571516.2017.1339950
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    References listed on IDEAS

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    1. Marcel Boyer & Rachidi Kotchoni, 2015. "How Much Do Cartel Overcharge?," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 47(2), pages 119-153, September.
    2. Marcel Boyer & Rachidi Kotchoni, 2011. "The Econometrics of Cartel Overcharges," CIRANO Working Papers 2011s-35, CIRANO.
    3. Jean Tirole, 1988. "The Theory of Industrial Organization," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262200716, December.
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