Cai, Xiaowei; Stiegert, Kyle W. - Agricultural and Applied Economics Association - AAEA - 2010
forming or joining a cartel. While NPV adequately measure the expected value of future streams of benefits and costs, higher … cartel is, at least, partially irreversible, because it exposes the firm or its involved managers to litigation on all … previous returns and even after the cartel is dissolved. In this study, we rely on the aforementioned irreversible and …