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1 1 (1986)

handle is hein.amenin/aeiaadp0001 and id is 1 raw text is: Two of the leading scholars on antitrust penalties update our menu z of policy choices. Breit and Elzinga highlight how business executives'-4 attitude toward risk affects the optimal prescription of incarceration, C fines, and private damages to deter antitrust violations. JOHN SIEGFRIED 0 chairman, department of economics z Vanderbilt University . . . challenges the traditional punishments applied for antitrust vio- M lations. The authors clearly demonstrate that public action can be -n tailored to produce optimal deterrence at minimum social cost. 0 YALE BROZEN professor of economics 0 University of Chicago Antitrust Penalty ReformQ. m An Economic Analysis cc WILLIAM BREIT AND KENNETH G. ELZINGA How effective are our antitrust penalties? After decades of rel- atively little interest in this question, considerable attention is now being paid to the economic consequences of what is, and is not, done to antitrust violators. The authors focus on the penalties of incarceration and fines that may be imposed after public prosecution and of treble damages that may be levied after litigation by a private plaintiff. The study describes the economic costs of private damages actions and evaluates the use of jail sentences and other pen- alties for Sherman Antitrust Act offenders. The authors subject the various penalties to a cost-benefit analysis and make sug- gestions for their reform. William Breit is the E. M. Stevens Distinguished Professor of Economics at Trinity University in San Antonio, Texas. Ken- neth G. Elzinga is a professor of economics at the University of Virginia. US $12.00 ISBN-13: 978-0-8447-3600-6 ISBN-10: 0-8447-3600-7 1 i5 1200 9 7 80844 7360061111

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