Work

O poder dissuasório das multas a cartéis: uma avaliação a partir da experiência brasileira recente

Year: 2025

Type: article

Abstract: Brazil’s Administrative Council for Economic Defense (Cade) has spent years discussing the effectiveness of calculation rules for pecuniary fines imposed on companies convicted in the trial proceedings of cartel cases. The core of this debate lies in the deterrent effects of the fines applied. This article analyzes a sample of 209 fines imposed by Cade on companies convicted of cartel behavior in 153 cases from 2012 to 2021. The analysis is based on economic theories of optimal deterrent fines and the economic rationality of offenses and penalties. The study compares the amounts of fines imposed by Cade, based on the selected sample, with those recommended by three theoretical models – Combe (2006), Combe and Monnier (2011) and Buccirossi and Spagnolo (2007) – in various scenarios. The analysis concludes that, in all the scenarios studied, the fines imposed by Cade fall short of what is necessary to achieve the expected deterrent effect on cartel behavior.

Source: LA Referencia (Red Federada de Repositorios Institucionales de Publicaciones Científicas)

Authors: Santana de Carvalho, Adilson, Goldbaum, Sergio

Language: English

Topic: Merger and Competition Analysis

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDG: Peace, justice, and strong institutions

Open Access status: green

OpenAlex ID: W7119254337

FWCI:

Cites:

Cited by:

Related to: