Brandão, António; Pinho, Joana; Vasconcelos, Hélder - Faculdade de Economia, Universidade do Porto - 2013
We characterize collusion sustainability in markets where demand growth may trigger the entry of a new firm whose … divide the cartel profit after entry is a key determinant of the incentives for collusion (before and after entry). In … particular, if the incumbents and the entrant are very asymmetric, collusion without side- payments cannot be sustained. However …