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This paper analyzes the role of patience in a repeated Bertrand duopoly where firms bargain over which collusive price and market share to implement. It is shown that the least patient firm's market share is not monotone in its own discount factor
Persistent link: https://www.econbiz.de/10014178725
buyers have heterogeneous storage technologies, periodic sales may facilitate collusion by magnifying intertemporal linking …
Persistent link: https://www.econbiz.de/10013119971
Tacit collusion is explored under a strategy in which, loosely speaking, firms match the lowest price set by any firm …
Persistent link: https://www.econbiz.de/10013155040
collusion. It may even make it sustainable in all markets when otherwise it would not be sustainable in any. The effects of …
Persistent link: https://www.econbiz.de/10014193963
collusion. It may even make it sustainable in all markets when otherwise it would not be sustainable in any. The effects of …
Persistent link: https://www.econbiz.de/10014194052
collusion game. Consistent with the existing literature on communication and collusion, even minimal communication leads to a … short run increase in collusion. However, in a limited message-space treatment where subjects cannot communicate contingent … strategies, this initial burst of collusion rapidly collapses. When unlimited pre-game communication is allowed via a chat window …
Persistent link: https://www.econbiz.de/10014201287
We study cheap-talk pre-play communication in the static all-pay auctions. For the case of two bidders, all correlated and communication equilibria are payoff equivalent to the Nash equilibrium if there is no reserve price, or if it is commonly known that one bidder has a strictly higher value....
Persistent link: https://www.econbiz.de/10009745257
critical discount factor required to sustain collusion. This result is shown to hold for Cournot oligopoly as well as for … Bertrand oligopoly when collusion is sustained with Nash-reversion strategies or optimal-punishment strategies. In a Cournot …
Persistent link: https://www.econbiz.de/10010406210
linked to illegal gains and detection probabilities depend on the degree of collusion. A novel aspect of this study is that …
Persistent link: https://www.econbiz.de/10010433900
For a general class of oligopoly models with price competition, we analyze the impact of ex-ante leniency programs in antitrust regulation on the endogenous maximal-sustainable cartel price. This impact depends upon industry characteristics including its cartel culture. Our analysis disentangles...
Persistent link: https://www.econbiz.de/10011377398