sanctioning institutions on firms’ communication. Using machine learning to organize the chat communication into topics, we find … present. At the same time, average prices are lower when communication is less explicit. A mediation analysis suggests that … the prevalence of explicit price communication. …

This paper sheds new light on the role of communication for cartel formation. Using machine learning to evaluate free …-form chat communication among firms in a laboratory experiment, we identify typical communication patterns for both explicit … sanctions on communication reinforces the direct cartel-deterring effect of sanctions as collusion is more difficult to reach …

This paper sheds new light on the role of communication for cartel formation. Using machine learning to evaluate free …-form chat communication among firms in a laboratory experiment, we identify typical communication patterns for both explicit … sanctions on communication reinforces the direct cartel-deterring effect of sanctions as collusion is more difficult to reach …

we study their effect on firms' communication in a laboratory experiment. Using machine learning to organize the chat … communication into topics, we find that firms are less likely to communicate explicitly about price fixing when sanctioning … institutions are present. At the same time, average prices are lower when communication is less explicit. A mediation analysis …

We study strategic communication between a Sender and Receiver who are both uncertain about their preferred actions … precisely a situation where communication about ideal policies is credible. The resulting equilibrium features message … strategies that are smooth in a subspace of the Sender's information. Smooth communication equilibria are extremely tractable …