We study the timing of leniency applications using a novel application of multi-spell discrete-time survival analysis for a sample of cartels that were prosecuted by the European Commission (EC) between 1996 and 2014. The start of an EC investigation does not affect the rate at which conspirators apply for leniency in the market investigated but increases the rate of application in separate markets in which a conspirator in the investigated market also engaged in collusion. Our results shed light on enforcement efforts against cartels and other forms of conspiracy.
|Number of pages||44|
|Publication status||Published - 28 Feb 2016|
|Name||TILEC Discussion Paper|
- multi-market contact
- enforcement spillovers