Learning by litigating: An application to antitrust commitments
研究了承诺决定对反垄断执法效率的影响，发现当罚金足够高时，反垄断当局会低估诉讼的动态信息收益，倾向于过度使用承诺。
This paper examines the impact of commitment decisions on the efficiency of antitrust enforcement. We discuss the optimal use of commitments considering past rulings as a source of knowledge to better assess future similar antitrust cases. Our framework combines two key effects: the deterrence of the anticompetitive behavior by the different enforcement regimes, and the dynamic perspective through litigation as a source of learning. We show that if the level of penalty is high enough, the antitrust authorities undervalue the dynamic informational benefit of litigation and tend to over-use commitments.