Saturday, April 12, 2008
Posted by D. Daniel Sokol
Nicolo Zingales of the European Policy Centre asks about European and American Leniency Programmes: Two Models Towards Convergence?
ABSTRACT: This paper compares the different approach that United States and Europe have embraced in designing their Leniency programme. The analysis first explains the rationale underlying such programme, sketching the economic principles on which it rests. It follows highlighting those crucial features that call for the utmost care in the design of the programme. Finally, the paper assesses under the perspective of rational consequent behaviour which programme has set better incentives to spur firms' confession.