Nikolaus Fink, Philipp Schmidt-Dengler, Konrad Stahl and Christine Zulehner on ‘Registered cartels in Austria: an overview’ (2017) European Journal of Law and Economy 44 385

Many countries used to allow firms to engage in anticompetitive practices as long as they registered their agreements with a government authority. This was the case in several European countries, such as Denmark, Finland, Norway, and Sweden after World War II; or the United States under the National Industrial Recovery Act (NIRA). In Austria, cartels were legal until the country’s EU accession in 1995. This paper.  available here, examines archival material on various types of registered horizontal cartels in Austria to learn about their inner working. It undertakes a content analysis of these legally binding cartel contracts with a view to identifying different collusion methods. In short, the authors find that these cartel agreements addresses those issues that the academic literature has identified as potential obstacles to sustaining collusion over time. In particular, the agreements set up compensation schemes, reporting requirements, rules for entry and exit, and mechanisms to ensure quick and credible punishment of cartel deviation. The paper is…