@article{publications25703,
          volume = {47},
          number = {2},
           month = {September},
          author = {Marcel Boyer and Rachidi Kotchoni},
           title = {How Much Do Cartels Overcharge?},
       publisher = {Kluwer},
            year = {2015},
         journal = {Review of Industrial Organization},
           pages = {119--153},
        keywords = {Antitrust, Cartel overcharges, Heckman correction, Antitrust Cartel overcharges, Kullback?Leibler divergence, Meta-analysis},
             url = {https://publications.ut-capitole.fr/id/eprint/25703/},
        abstract = {Connor and Lande (Issues in competition law and policy, pp 2203?2218, 2008) conducted a survey of cartels and found a mean overcharge estimate in the range of 31?49 \%. By examining more sources, Connor (Price-fixing overcharges, 2nd edn. http://papers.ssrn.com/sol3/papers.cfm?abstract\_id=1610262, 2010) finds a mean of 50.4 \% for successful cartels. However, the data that are used in those studies are estimates that are obtained from different methodologies, sources, and contexts rather than from direct observation. We conduct a meta-analysis of cartel overcharge estimates that provides a sound treatment of these matters and other data problems. We find a bias-corrected mean and median overcharge estimate of 15.47 and 16.01 \%. Our results have significant antitrust policy implications.}
}