Description
Book SynopsisAdam 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.
Trade Review'Mike Utton's timely new book provides an excellent overview of issues arising from cartels and collusion between firms and shows how this remains an important policy concern in the world today. The book covers areas such as the economics of collusion, the case for collaboration and the persistence of cartels over time. It then moves on to policy development and discusses current policy both in the US and EU. Individual cases are reviewed and the important development of leniency policy is discussed as a key feature in policy today. Overall this is a very useful addition to the literature and will be particularly of use to both students and other researchers working in this field.' --Roger Clarke, Cardiff University, UK
Table of ContentsContents: Preface 1. The Economics of Collusion 2. The Case for Collaboration 3. The Persistence of Cartels 4. The Effects of Cartels: Markups and Welfare Losses 5. The Evolution of Cartel Policy 6. Penalties for Antitrust Offences 7. Carrots Rather than Sticks: Leniency Programmes in the US and the EU 8. Conclusion References Index
