Prosecution of the lysine cartel signaled aresurgence in global price-fixingconspiracies in dozens of markets. It was the first to enter thevideo age and set new precedents for large criminal fines. Thispaper examines the sensitivity of overcharges generated by thecartel to several factors: time period, seasonality of demand,and the price absent collusion. Civil settlements in the federalclass action (including the interrelated citric acid conspiracy)were the fourth highest in legal history. Yet, overcharges of$65 to $134 million mean that buyers in the federal class receivedat most single damages. The opt-out firms got double damages.
Review of Industrial Organization – Springer Journals
Published: Oct 3, 2004
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