How Much Do Cartel Overcharges

48 Pages Posted: 29 Aug 2011 Last revised: 12 Apr 2016

See all articles by Marcel Boyer

Marcel Boyer

CIRANO, Université de Monréal

Rachidi Kotchoni

Université Paris Nanterre; African Development Bank

Date Written: August 10, 2011


Connor and Lande (2008) conducted a survey of cartels and found a mean overcharge estimate in the range of 31% to 49%. By examining more sources, Connor (2010) finds a mean of 50.4% for successful cartels. However, the data that are used in those studies are estimates that are obtained from different methodologies, sources, and contexts rather than from direct observation. We conduct a meta-analysis of cartel overcharge estimates that provides a sound treatment of these matters and other data problems. We find a bias-corrected mean and median overcharge estimate of 15.47% and 16.01%. Our results have significant antitrust policy implications.

Keywords: Cartels, overcharges

Suggested Citation

Boyer, Marcel and Kotchoni, Rachidi, How Much Do Cartel Overcharges (August 10, 2011). CIRANO - Scientific Publication No. 2011s-35, Available at SSRN: or

Marcel Boyer (Contact Author)

CIRANO, Université de Monréal ( email )

1400-1130 Sharbrooke St. West
Montreal, Quebec H3A 2M8
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Rachidi Kotchoni

Université Paris Nanterre ( email )

200 Avenue de la République
Nanterre, Hauts de Seine 92000

African Development Bank ( email )

Rue Joseph Anoma
Abidjan, Ivory Coast 01 BP 1387
Ivory Coast (Cote D'ivoire)

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