Cartels riches & risks: The rewards for fixing prices can be high, but then so are the downside risks if someone blows the whistle or the authorities start an investigation. (Feature).

Chemistry and Industry | January 21, 2002| | Copyright

2001 saw the greatest number of fines ever imposed by the European Commission against cartels, including the largest ever single fine of [euro]463m against Hoffmann-La Roche. European competition commissioner Mario Monti took action against 56 companies, imposing fines totalling approximately [euro]1836m ($1635m). A fine of [euro]855m was imposed against 13 companies involved in a vitamins cartel, including the Hoffmann-La Roche fine.

Risks and rewards

Devising a cartel is simple. If competitors divide up a market between themselves or fix prices, profits ...

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