By Harrington J.E.
This paper distills and organizes evidence approximately cartels from approximately 20 eu fee judgements over 2000-2004. It describes the homes of a collusive end result by way of the surroundings of cost and a marketplace allocation, tracking of agreements with appreciate to cost yet extra importantly revenues, punishment tools for implementing an contract and in addition using buy-backs to compensate cartel participants, equipment for responding to exterior disruptions from non-cartel providers and dealing with over-zealous revenues representatives, and operational approaches by way of the frequency of conferences and the cartel's organizational constitution.
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Extra info for How Do Cartels Operate?
2. Quantity 39 . . Account leadership would be determined based on the market shares of each of the cartel members for each major customer for the years 1994/1995. The policy was based on the following key principles. i) The current market shares of the cartel members should be frozen at all accounts and per each item sold where applicable. ii) For each major customer an account leader should be agreed, which normally should be the cartel member with the largest share of that customer’s purchases.
2. Quantity 33 important for ADM to reveal the extent of its capacity and its low-cost of production; both towards assuring that the cartel form and, in that event, that ADM would be allocated a suﬃciently large sales quota. The exchange of capacity information is consistent with the use of capacity to determine a market allocation. A number of historical cartels have used such a rule including some German cartels in the 1920s and 1930s (Bloch, 1932)7 and the Norwegian cement cartel in the mid-20th century R¨ oller and Steen (2003).
2. Quantity 35 that Bio Products and Chinook would be out of Western Europe by mid-1993 and out of Eastern Europe by mid-1994 and European suppliers would exit North American by mid-1993. For Asian markets, Ducoa would reduce supply, the supply of European manufacturers would be unchanged, and Bio Products and Chinook would expand; while in Latin America, BASF would transfer exports from Europe to there and the other cartel members would hold their exports at current levels. The home-market principle was also at work in the copper plumbing tubes and seamless steel tubes cartels: the basic goal of the meetings was to protect the main producers’ home markets and to freeze the market shares on the basis of the volume ﬁgures of previous reference periods.