The Private International Cartels (PIC) Data Set: Guide and Summary Statistics, 1990-2019

Abstract

This paper describes the sources and methods used to create the PIC data set, which the author believes to be the largest collection of legal-economic information on contemporary price-fixing cartels. It details the scope, strengths, and limitations of the data therein. Finally, summary descriptive statistics are developed for cartels detected during 1990-2017. A few highlights are: • The number of new cartels detected peaked at 83 per year in 2010-2015. • Of 1405 investigated cartels, 1130 were convicted, 124 dismissed, and 151 undecided. • Relative to GDP, cartels operating in Europe are triple the number in North America. • However, the affected sales’ size of all European cartels equals the N. American ones. • Affected sales total about $900 billion, of which global cartels account for 37%. • The average guilty cartel’s estimated sales size is $917 million, global $6.9 billion. • More than 49,000 companies were indicted for international price fixing. • Monetary penalties reached $233 billion, which equals 2.0% of affected sales. • More than half of all cartel penalties are paid to North American authorities. • EC and DOJ fines were 95% of world in early 1990s; down to 40% in 2015-2019. • 65% of guilty corporate cartelists are headquartered in W. Europe. • 1349 persons were sanctioned: the median fine for 584 was $50,000. • Prison sentences imposed on 376 executives total 1833 years. • Gross cartel overcharges are $64 to $286 trillion, two-thirds by global cartels. • Worldwide cartel penalties declined after 2012-2014.