Antitrust and Prices
研究1973-1984年间25个反垄断起诉案例，发现被起诉企业价格在四年内上涨约7%，但处罚力度与价格负相关，暗示处罚过轻或起诉过宽。
This study examines the effects of antitrust prosecution on prices charged by firms indicted for price fixing. In a survey of twenty-five cases filed between 1973 and 1984, prices are found to gradually rise by about 7 percent over the four years following an indictment. However, the severity of penalties is negatively correlated with prices. These two findings suggest either that penalties are too lenient or that prosecution is too broad, penalizing economically efficient conspiracies along with those that are inefficient. Copyright 1993 by University of Chicago Press.