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Byford, Martin C. - 2014

from, individual markets. We show that this gives rise to a new mechanism by which a cartel can sustain a collusive …

Persistent link: https://www.econbiz.de/10013053469

Digital Rights Management and the Pricing of Digital Products

Park, Yooki - 2008

As it becomes cheaper to copy and share digital content, vendors are turning to technical protections such as encryption. We argue that if protection is nevertheless imperfect, this transition will generally lower the prices of content relative to perfect legal enforcement. However, the effect...

Persistent link: https://www.econbiz.de/10012727035

International Price-Fixing Cartels and Developing Countries : A Discussion of Effects and Policy Remedies

Levenstein, Margaret; Suslow, Valerie Yvonne; Oswald, … - 2021

recent cartel cases, as well as at a broader cross-section of 42 recently prosecuted international cartels. We discuss the …

Persistent link: https://www.econbiz.de/10013221847

Entry and Predation : British Shipping Cartels 1879-1929

Scott Morton, Fiona - 2021

century. These established markets are completely dominated by an incumbent cartel composed of several member shipping lines …. The cartel makes the decision whether or not to begin a price war against the entrant; some entrants are formally admitted … to the cartel without any conflict. I use characteristics of the entrant to predict whether or not the entrant will …

Persistent link: https://www.econbiz.de/10013222218

Bidding Rings and the Winner'S Curse : The Case of Federal Offshore Oil and Gas Lease Auctions

Hendricks, Kenneth; Porter, Robert H.; Tan, Guofu - 2021

This paper extends the theory of legal cartels to affiliated private value and common value environments, and applies the theory to explain joint bidding patterns in U.S. federal government offshore oil and gas lease auctions. We show that efficient collusion is always possible in private value...

Persistent link: https://www.econbiz.de/10013227485

International Trade Aspects of Competition Policy

Nagaoka, Sadao - 2021

Recently competition policy has become an important trade policy issue, since many policy makers now see competition policy as an important instrument to secure market access' to foreign markets. This paper analyzes this issue both from a theoretical point of view and from the review of the...

Persistent link: https://www.econbiz.de/10013228236

A Supergame-Theoretic Model of Business Cycles and Price Wars During Booms

Rotemberg, Julio; Saloner, Garth - 2021

This paper studies implicitly colluding oligopolists facing fluctuating demand. The credible threat of future punishments provides the discipline that facilitates collusion. However, we find that the temptation to unilaterally deflate from the collusive outcome is often greater when demand is...

Persistent link: https://www.econbiz.de/10013228647

Trade Warfare : Tariffs and Cartels

Brander, James A.; Spencer, Barbara J. - 2021

National governments have incentives to intervene in international markets, particularly in encouraging export cartels and in imposing tariffs on imports from imperfectly competitive foreign firms. Although the optimal response to foreign monopoly is usually a tariff, a specific subsidy will be...

Persistent link: https://www.econbiz.de/10013234976

The Impact of Cartelization, Money, and Productivity Shocks on the International Great Depression

Cole, Harold L. - 2013

model framework, we use the fact that many cartel policies are observationally equivalent to a country-specific labor tax … wedge. We estimate a monetary DSGE model with cartel wedges along with productivity and monetary shocks. Our main finding is … that cartel policy shocks account for the bulk of the Depression in the countries that adopted significant cartel policies …

Persistent link: https://www.econbiz.de/10013086305

Price Cutting and Business Stealing in Imperfect Cartels

Bernheim, B. Douglas - 2014

Though economists have made substantial progress toward formulating theories of collusion in industrial cartels that account for a variety of fact patterns, important puzzles remain. Standard models of repeated interaction formalize the observation that cartels keep participants in line through...

Persistent link: https://www.econbiz.de/10013056583