This paper considers the possibility of monopolizing a three-firm industry through acquisition of rivals in the absence of the restrictions imposed by the antitrust authorities. The analysis is conducted in two models: a static and a dynamic model of monopolization by a single buyer. In contrast...

The article focuses on the emergence and operation of cartels in sectors in which companies differ in terms of production costs. The author shows that stable cartels can operate in sectors made up of enterprises that are heterogeneous in terms of costs and based on price leadership. However,...

The objective of this paper is to investigate the bargaining over debt rescheduling between a sovereign borrower and a foreign lender in a more general framework than in the preceding literature. We propose a model in which the impact of the bargaining power of the creditor and the debtor can be...

The objective of this paper is to investigate the impact of R&D cooperation on cartel formation in the product market. The R&D investments that precede the production process are aimed at the reduction of the unit manufacturing costs, and could create positive externalities for the potential...

The aim of this paper is to assess the impact of R&D cartel, full industry cartel, and patents on process innovation of companies, and consumer surplus, and total welfare. The reference scenario is here the Cournot rivalry without patent protection of inventions. In this paper, the quadratic...

The present article shows and discusses the economic problems of market cartelization, and perceives cartels as objects of public policy and interest. In this paper, the term ‘cartel’ has been profoundly explained and elaborated, and the selected examples of industry cartelization, coming...

The authors examine the timing and quality of product introduction in an R&D stopping game, where they allow for horizontal and vertical differentiation in the product market. They observe that discontinuous changes in introduction dates can occur as firms' abilities as researchers change....

We examine the timing and quality of product introduction in an R&D stopping game, where we allow for horizontal and vertical differentiation in the product market. We observe that discontinuous changes in introduction dates can occur as firms' abilities as researchers change. Further, when the...

The main objective of this paper is to examine the efficiency of foreign investment borrowing by Poland in the 1970s. That decade was of particular significance in the post-war history of Central and Eastern Europe. For the first time after the World War II, Poland – a major country in the...