Cartels Uncovered

6533b859fe1ef96bd12b6e4c

RESEARCH PRODUCT

Cartels Uncovered

Ari Hyytinen Frode Steen Otto Toivanen

subject

Finnish-Soviet trade kilpailupolitiikka jel:L40 01 natural sciences jel:L41 jel:L0 jel:L60 competition law jel:L00 010104 statistics & probability kartellit 0502 economics and business 050207 economics 0101 mathematics ta511 lainsäädäntö idänkauppa 05 social sciences korporativismi antitrust policy kilpailuoikeus lait Antitrust; cartel; competition; detection; Hidden Markov models; illegal; legal; leniency; policy; registry.jel:L4 antitrust; cartel; competition; detection; Hidden Markov models; illegal; legal; leniency; policy; registry kilpailu General Economics Econometrics and Finance cartels corporatism

description

How many cartels are there? The answer is important in assessing the efficiency of competition policy. We present a Hidden Markov Model that answers the question, taking into account that often we do not know whether a cartel exists in an industry or not. Our model identifies key policy parameters from data generated under different competition policy regimes and may be used with time-series or panel data. We take the model to data from a period of legal cartels - Finnish manufacturing industries 1951 - 1990. Our estimates suggest that by the end of the period, almost all industries were cartelized.

year	journal	country	edition	language
2018-01-01

http://urn.fi/URN:NBN:fi:jyu-201810304555

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