Introduction of Leniency Programs for Cartel Participants: The Russian Case

Collusion of market participants is one of the most dangerous forms of restriction of competition, adversely affecting incentives and, as a consequence, allocation and production efficiencies. According to some estimates, the average price rise under price-fixing is 10 percent ; several studies give even higher estimates. For example, according to Connor & Bolotova, the median cartel overcharge over the competitive price is 25 percent, and