Leniency - Kartellin ilmiantaminen ja seuraamusmaksusta vapautuminen tai sen alentaminen oikeustaloustieteellisestä näkökulmasta tarkasteltuna

The purpose of the study is to solve contents, functioning and potential improvements of European Union and Finlands leniency-system that is to say amnesty and reduction system from fines imposed from cartel activity. Law and economics was chosen as a research method, which has made possible to handle the subject in a comprehensive perspective. The study is based on literature, also legal cases, law and legislative history have been used as help. Leniency is a reasonably new system both in European Unions and in Finlands competition law. It makes possible to detect even secret cartels with the help of deterrent aimed at them. Companies experience the large amount of fines and the investigation concerning the cartel as big threats, therefore they all want to be the first one to report it in order to get full amnesty. However, this system needs improvements, for instance improving the transparency, unifying the European Unions leniency applications and finding answers to certain question concerning justice.

The Anatomy of an International Cartel: Cyanide 1897-1927

The development of a new product or a new process, if adopted by the market, may generate a number of economic processes including secondary innovations to promote the exploitation of the new discovery. Such technological advances may also promote new industrial ventures which may exist over many decades, enhancing economic development. The history of the adoption of the cyanide process for the extraction of gold from its ores exemplifies such developments. One outcome was the formation of an international cyanide cartel.

Portuguese commercial banking: An assessment of competition in the 1960-2013 period

Strong consolidation is one of the most evident developments of banking markets around the world in recent decades. This change is raising questions on how and to what an extent competition is affected by the expansion of the largest banks. The aim of the present study is to measure the degree of competition in the Portuguese commercial banking market in the long-run, during the period ranging from1960 to 2013, by using the non-structural model developed by Panzar and Rosse. The main findings are that the Portuguese banking system, despite the legal restrictions in place, operated mostly in a market with some degree of competition and, at some points in time, presented some interesting competitive features. More recently, it has evolved into functioning as a cartel.

Cartel deterrence and settlements: the Brazilian experience

Settlements are an important part of a program of cartel deterrence, particularly when the likelihood of conviction and the litigation costs are higher. This type of negotiated procedure to reach finality is in essence complementary to the fully adversarial procedures associated to the trial by the administrative or judicial courts, and to other investigative instruments, such as the leniency agreement. The Brazilian experience provides some insights about the different models of direct settlement in cartel cases and the complex interaction among settlements, leniency agreements, and trial outcome. First, there is leeway for the complementary models of settlements, the first oriented mainly to increasing the likelihood of detection, and the second oriented to saving social costs of litigation. Second, the concern with the preservation of the demand for leniency agreements led the competition authority to restrict the use of settlements, which are effectively designed for the defendants that are likely guilty and give higher value to finality. The recent experience illustrates that the current settlement policy has not caused any adverse effect on leniency agreements, while reducing litigation costs and granting finality in some cases.

The dynamics of leniency application and the knock-on effect of cartel enforcement. Bruegel Working Paper 2016/02, February 2016

The authors study the timing of leniency applications using a novel application of multi-spell discrete-time survival analysis for a sample of cartels prosecuted by the European Commission between 1996 and 2014. The start of a Commission investigation does not affect the rate by which conspirators apply for leniency in the market investigated, but increases the rate of application in separate markets in which a conspirator in the investigated market also engaged in collusion. The revision of the Commission’s leniency programme in 2002 increased the rate of pre-investigation applications. Our results shed light on enforcement efforts against cartels and other forms of

A kiskereskedelmi árrögzítés versenyfokozó hatása (The competition-enhancing effect of retail price maintenance)

A kiskereskedelmi árrögzítés évtizedek óta vitatott kérdés a közgazdasági elméletben. Az Egyesült Államok legfelsőbb bíróságának közelmúltbeli döntése - megszüntetve az ilyen típusú árkorlátozások önmagában törvénytelennek ítélését - ismételten felhívta a figyelmet az adott problémakörre. Cikkünkben az árrögzítés eddig mellőzött versenyfokozó hatásával foglalkozunk. A megszokott statikus modellek helyett dinamikus környezetet feltételezve, arra a következtetésre jutunk, hogy egy profitmaximalizáló termelőnek számos esetben célszerű kiskereskedelmi árrögzítést alkalmazni egy esetlegesen kialakuló forgalmazói kartell megelőzésére, amelynek egyértelműen pozitív hatása van nemcsak a termelő profitjára, hanem a kialakuló fogyasztói többletre nézve is. Amellett érvelünk, hogy indokolatlan a még mindig uralkodó, a legtöbb ország versenyszabályozásában tetten érhető, önmagában törvénytelennek minősített megítélés a vertikális árkorlátozásokkal kapcsolatban. / === / Retail price fixing has been a disputed issue in theoretical economics for decades, to which attention was drawn again by a recent decision by the US Supreme Court ending the illegality of such price restrictions as such. Assuming a dynamic environment instead of the customary static model leads to the conclusion that it is frequently advantageous to a profit-maximizing producer to use retail price maintenance to avert the possible appearance of a reseller cartel. This will have a clearly positive effect on producer profits, and also in terms of increasing consumption. It is also argued in the study that it is unjustified to qualify such vertical pricing restrictions as essentially illegal, after the manner of the competition rules in most countries.

Testes de desempenho aeróbio relacionados a intensidades de corrida em treinamento e competição para fundistas de alto rendimento = : Aerobic performance tests related to training and competition running intensities for high performance distance runners

Universidade Estadual de Campinas . Faculdade de Educação Física

Energy absorbed by electronic body protectors from kicks in a taekwondo competition

Objective: Although some scientific information on electronic body protectors in taekwondo is available, no research has been done to assess the impact of kicks in a competitive situation. The purpose of this study, then, was to assess the energy absorbed by these protectors from kicks performed in an actual taekwondo competition. Methods: Subjects consisted of junior (14-17 years) and senior (>= 18 years) male taekwondo-in, who participated in an open tournament. Data on the energy imparted by valid kicks in Joules (1) were collected from a public visual electronic monitor. Results: Energy was higher for the seniors: 264.31 +/- 56.63 J versus 224.38 +/- 48.23 J for the juniors (eta(2) = 0.121). The seniors scored lower in percent impact but the effect was trivial: 123.46 +/- 24.77% versus 136.70 +/- 26.33% (eta(2) = 0.087). Conclusions: The difference between senior and junior taekwondo-in in absolute energy generated was small, while the difference in relative energy impact was trivial in favour of the junior taekwondo athletes.

Particle competition for complex network community detection

In many real situations, randomness is considered to be uncertainty or even confusion which impedes human beings from making a correct decision. Here we study the combined role of randomness and determinism in particle dynamics for complex network community detection. In the proposed model, particles walk in the network and compete with each other in such a way that each of them tries to possess as many nodes as possible. Moreover, we introduce a rule to adjust the level of randomness of particle walking in the network, and we have found that a portion of randomness can largely improve the community detection rate. Computer simulations show that the model has good community detection performance and at the same time presents low computational complexity. (C) 2008 American Institute of Physics.

A PHASE TRANSITION FOR COMPETITION INTERFACES

We study the competition interface between two growing clusters in a growth model associated to last-passage percolation. When the initial unoccupied set is approximately a cone, we show that this interface has an asymptotic direction with probability 1. The behavior of this direction depends on the angle theta of the cone: for theta >= 180 degrees, the direction is deterministic, while for theta < 180 degrees, it is random, and its distribution can be given explicitly in certain cases. We also obtain partial results on the fluctuations of the interface around its asymptotic direction. The evolution of the competition interface in the growth model can be mapped onto the path of a second-class particle in the totally asymmetric simple exclusion process; from the existence of the limiting direction for the interface, we obtain a new and rather natural proof of the strong law of large numbers (with perhaps a random limit) for the position of the second-class particle at large times.

COMPETITION AMONG EUCALYPTUS TREES DEPENDS ON GENETIC VARIATION AND RESOURCE SUPPLY

Genetic variation and environmental heterogeneity fundamentally shape the interactions between plants of the same species. According to the resource partitioning hypothesis, competition between neighbors intensifies as their similarity increases. Such competition may change in response to increasing supplies of limiting resources. We tested the resource partitioning hypothesis in stands of genetically identical (clone-origin) and genetically diverse (seed-origin) Eucalyptus trees with different water and nutrient supplies, using individual-based tree growth models. We found that genetic variation greatly reduced competitive interactions between neighboring trees, supporting the resource partitioning hypothesis. The importance of genetic variation for Eucalyptus growth patterns depended strongly on local stand structure and focal tree size. This suggests that spatial and temporal variation in the strength of species interactions leads to reversals in the growth rank of seed-origin and clone-origin trees. This study is one of the first to experimentally test the resource partitioning hypothesis for intergenotypic vs. intragenotypic interactions in trees. We provide evidence that variation at the level of genes, and not just species, is functionally important for driving individual and community-level processes in forested ecosystems.

Parliament House Competition Model, Canberra

View of model for competition entry.

Parliament House Competition Drawings, Darwin

View of presentation drawings for competition entry.

Parliament House Competition Model, Darwin

View of model for competition entry.