Global Cartels Redux: The Lysine Antitrust Litigation

39 Pages Posted: 8 Nov 2014

See all articles by John M. Connor

John M. Connor

American Antitrust Institute (AAI); Purdue University

Date Written: November 6, 2014

Abstract

The amino-acid lysine cartel was a watershed even in antitrust enforcement. It was the first global price-fixing conspiracy to be convicted by U.S. or EU antitrust authorities in 40 years. This paper presents an updated narrative of the history of the global lysine cartel and the legal consequences for its members in the United States. The story focuses especially upon the role of economists in calculating the size of overcharges and how the estimates can affect the decisions of plaintiffs and defendants in private treble-damages litigation. It concludes with ruminations about the rationality of participating in price-fixing conspiracies and the difficulty of achieving optimal deterrence of international cartels.

Keywords: Cartel, collusion, price fixing, antitrust, optimal deterrence, chemicals, remedies

JEL Classification: L41, L44, L65, L11, L13, N60, K21, K14

Suggested Citation

Connor, John M. and Connor, John M., Global Cartels Redux: The Lysine Antitrust Litigation (November 6, 2014). Available at SSRN: https://ssrn.com/abstract=2520151 or http://dx.doi.org/10.2139/ssrn.2520151

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