Antitrust Amnesty, Game Theory, and Cartel Stability

From: Journal of Corporation Law | Date: January 1, 2006| Author: Leslie, Christopher R | Copyright information

I. INTRODUCTION

While most areas of antitrust law breed controversy over which types of business conduct should be illegal, there is one area of relatively broad consensus: price-fixing cartels should be condemned. Cartels injure consumers by raising prices. For example, a cartel of producers of the amino acid lysine increased prices by 70% within the cartel's first six months of operation and relatively quickly doubled prices.1 Cartels create allocative inefficiency by reducing produc...

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