Snitches get stiches - An empirical study of the probability to self-report and cartel stability under the European Commission leniency program
In an effort to combat illegal cartel activities taking place in the European Union, in 1996 the European Commission decided to implement a leniency program for self-reporting firms who, in return for information about their cartel, could receive a substantial reduction, or a total exemption from any fines that would have otherwise been imposed on them. The wellbeing and survival of cartels is dep