Leniency policies and illegal transactions

National and International Policies to Control Illegal Forest Activities

Optimal Corporate Leniency Programs∗

This study characterizes the corporate leniency policy that minimizes the frequency with which collusion occurs. Though it can be optimal to provide only partial leniency, plausible sufficient conditions are provided whereby the antitrust authority should waive all penalties for the first firm to come forward. It is also shown that restrictions should be placed on when amnesty is awarded, thoug...

Leniency Programs and Cartel Prosecution

We study the enforcement of competition policy against collusion under Leniency Programs, which give reduced ̄nes to ̄rms revealing information to the Antitrust Authority. Such programs give ̄rms an incentive to break collusion, but may also have a pro-collusive e®ect, since they decrease the expected cost of misbehaviour. We analyze the optimal policy under alternative rules and with homogeneo...

Cartel Destabilization and Leniency Programs – Empirical Evidence

Leniency programs as a tool for cartel detection and cartel destabilization, have been implemented since the early nineties. Theoretical work has shown that leniency programs can be effective in enhancing cartel detection and deterrence, but these effects are not straightforward. It is even possible that there is an increase in the total number of cartels. Empirical evidence shows that the posi...

An Analysis of Acceptance Policies For Blockchain Transactions

The standard acceptance policy for a cryptocurrency transaction at most exchanges is to wait until the transaction is placed in the blockchain and followed by a certain number of blocks. However, as noted by Sompolinsky and Zohar [16], the amount of time for blocks to arrive should also be taken into account as it affects the probability of double spending. Specifically, they propose a dynamic ...