%A Marcel Boyer
%A Rachidi Kotchoni
%J Review of Industrial Organization
%T How Much Do Cartels Overcharge?
%X 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.
%N 2
%K Antitrust
%K Cartel overcharges
%K Heckman correction
%K Antitrust Cartel overcharges
%K Kullback–Leibler divergence
%K Meta-analysis
%P 119-153
%V 47
%D 2015
%I Kluwer
%L publications25703