In this article published in the ABA’s Cartel & Criminal Practice Newsletter, Michelle Burtis and Bruce Kobayashi analyze, from an economic perspective, the relationship between cartel fines imposed by the US DOJ and harm-based optimal penalties, as described in economic literature. The authors find that under certain conditions, the DOJ fines are consistent with optimal fines when the multiplier used in setting the fine is at its minimum. To read the article, click the link below.
The Role of Uncertainty in the Future European Horizontal Merger Guidelines: Lessons Learned From Illumina/GRAIL
Under these circumstances, it is however not entirely clear how the future competitive landscape will look like, merger effects cannot be modelled with a high...