This paper reports 45 laboratory duopoly markets that examine the importance of information sharing in facilitating tacit collusion under conditions of demand uncertainty. Sellers in these repeated laboratory markets generally shared information when possible to reduce their demand uncertainty,...

This paper reports 45 laboratory duopoly markets that examine the importance of information sharing in facilitating tacit collusion under conditions of demand uncertainty. Sellers in these repeated laboratory markets generally shared information when possible to reduce their demand uncertainty,...

Two duopoly market structures are experimentally constructed. Payoff tables describe basic conditions in an X market and a Y market. In one market structure two rivals choose X quantities and a different set of rivals choose Y quantities. These markets develop equilibria independently. A second...

Economies are increasingly adopting renewable energy certificates as a policy mechanism to support the transition away from reliance on fossil fuels. We investigate the price of solar renewable energy certificates (SRECs) in New Jersey, allowing for the potential presence of jumps and...

In this paper, we present what is to our knowledge the first theoretical economic analysis of CO2- enhanced oil recovery (EOR). This technique, which has been used successfully in a number of oil plays (notably in West Texas, Wyoming, and Saskatchewan), entails injection of CO2 into mature oil...

We use a two-period model to analyze the short run and long run profitability and welfare consequences of horizontal mergers, where the equilibrium responses to a merger can differ over time. Although firms can anticipate the merger, they can only adjust their capacity in the long run.We find a...

Two duopoly market structures are experimentally constructed. Payoff tables describe basic conditions in an X market and a Y market. In one market structure two rivals choose X quantities and a different set of rivals choose Y quantities. These markets develop equilibria independently. A second...

In this paper, we analyze the question of membership in a non-renewable resource cartel, with specific application to OPEC. Using a simple model of a non-renewable resource market, we show that the benefits of cartel membership are related to the size of remaining reserves. Domestic petroleum...