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We express our appreciation for the comments of seminar participants at Wharton-BEPP. The ...rst author acknowledges the ...nancial support of the National Science Foundation (SES-1148129). 1 Abstract: There are many data sets based on the population of discovered cartels and it is from this data that average cartel duration and the annual probability of cartel death are estimated. It is recognized, however, that these estimates could be biased because the population of discovered cartels maydoi:10.2139/ssrn.2526324 fatcat:bffqgwskrnbifo7gaq6ddg6k3q