In the context of an infinitely repeated Prisoners' Dilemma, we explore how cooperation is initiated when players communicate and coordinate through their actions. There are two types of players - patient and impatient - which are private information. An impatient type is incapable of...

This paper identifies conditions under which an industry-wide practice of posted (or list) pricing is a plus factor sufficient to conclude that firms violated Section 1 of the Sherman Act. For certain classes of markets, it is shown that, under competition, all firms setting a list price with a...

Kartelle sind allgegenwärtig. Das jüngst entdeckte Spannstahlkartell reiht sich ein in die zehn größten entdeckten Kartelle der EU. Doch viele Kartelle agieren weiterhin unentdeckt und belasten die Konsumenten mit überhöhten Preisen. Die Wettbewerbsbehörden stützen ihre Ermittlungen...

In this paper, we compare the distribution of price changes between collusive and noncollusive periods for ten major cartels. The first moments focus on previous research. We extend the discussion to the third (skewness) and fourth (kurtosis) moments. However, none of the above descriptive...

Using a comprehensive dataset on the incidence of price-fixing across British manufacturing industries in the 1950s, I compare collusive and competitive industries and find evidence of a negative relationship between collusion and the labour productivity of larger firms relative to smaller...