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Author Utton, M. A. (Michael A.), 1939-

Title Cartels and economic collusion : the persistence of corporate conspiracies / Michael A. Utton
Published Cheltenham, UK ; Northampton, MA : Edward Elgar, 2011


Description 1 online resource (vii, 174 pages)
Contents The economics of collusion -- The case for collaboration -- The persistence of cartels -- The effects of cartels : markups and welfare losses -- The evolution of cartel policy -- Penalties for antitrust offences -- Carrots rather than sticks : leniency programmes in the US and the EU -- Conclusion
Summary Adam Smith warned of the prevalence of corporate conspiracies more than two hundred years ago. Since then, interest in cartels has sometimes intensified (during the Great Depression, for example) and sometimes diminished, but the need for control has always remained on the antitrust agenda. This well-documented book reviews the economic case against corporate collusion, as well as the arguments made for a more permissive attitude. A survey of recent empirical research reveals not only the prevalence of a wide range of international cartels but also the size of the inefficiencies and costs that they impose on customers and consumers. The antitrust reaction has therefore intensified with greatly increased fines being imposed by the US, the EU and other authorities. At the same time, they have developed sophisticated leniency polices with the aim of destabilizing the illegal conspiracies. After reviewing these measures, the author concludes with the hope that this toughened approach is not modified or reversed during periods of recession. This insightful book will appeal to undergraduates in economics, business and law studying antitrust and law and economics
Bibliography Includes bibliographical references and index
Notes Print version record
Subject Conspiracy.
BUSINESS & ECONOMICS -- Industries -- General.
Cartels constituants de l'analyse freudienne.
Centre national de la recherche scientifique.
Form Electronic book
ISBN 1849807701