We consider an international cartel whose members interact repeatedly in their own as well as in third …-country segmented markets. Cartel discipline-an inverse measure of the degree of competition between firms-is endogenously determined by … the cartel's incentive compatibility constraint (ICC), which links strategically markets that are seemingly unrelated …

theory, while sociological theories of social ties and intergroup comparisons suggest that bilateral cooperation can be …

Traditional economic theory of collusion assumed that cartels are inherently unstable, and yet some manage to operate … for years or even decades. While the literature has presented several determinants of cartel stability, the vast majority …, the communication and internal structures within the cartels as well as their breakup. Our results indicate that cartel …

This paper sheds new light on the role of communication for cartel formation. Using machine learning to evaluate free … cartel formation and indirect attempts to collude tacitly. We document that firms are less likely to communicate explicitly … sanctions on communication reinforces the direct cartel-deterring effect of sanctions as collusion is more difficult to reach …

-level policies that increase tax avoidance opportunities, the results of the empirical model broadly confirm our theory …