This paper tests the hypothesis that a (partial) reason why cartels - collective but costly and non-binding price agreements - lead to higher prices in a Bertrand oligopoly could be because of a selection effect: decision-makers who are willing to form price agreements are more likely to be less...

One of the key scientific challenges is the puzzle of human cooperation. Why do people cooperate? Why do people help strangers, even sometimes at a major cost to themselves? Why do people want to punish people who violate norms and undermine collective interests? This book is inspired by the...