Using an experiment, we study the effects of leniency programs on cartel deterrence, stability, duration and price behavior, when the antitrust authority has the possibility to decide upon the probability of investigation and offers only partial...

game, we found that introducing leniency program, o¤ering legal immunity through ne reductions for whistle-blowing on a cartel, by endogenous antitrust agency is a bad news in terms of cartel power reduction and tacit cartel duration and good news...