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Corporate compliance

Selected Works

D. Daniel Sokol

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Full-Text Articles in Law

Cartels, Corporate Compliance, And What Practitioners Really Think About Enforcement, D. Daniel Sokol Nov 2014

Cartels, Corporate Compliance, And What Practitioners Really Think About Enforcement, D. Daniel Sokol

D. Daniel Sokol

This article shows the limitations to the optimal deterrence-inspired cartel enforcement policy currently used by the Department of Justice Antitrust Division. This article employs both quantitative and qualitative survey evidence of cartel practitioners to shed light upon the realities of US cartel enforcement policy. The empirical evidence provided by the practitioner surveys challenges the traditional assumptions behind the success of the DOJ’s cartel program. Perhaps the most interesting finding is that firms regularly game the leniency program to punish their competitors. For various reasons, firms and the DOJ have strong incentives to settle rather than to litigate cases in which …