There has been a significant interest on a theoretical level in the application of supergames to oligopoly behavior …

We show that economic conditions when managers enter the labor market have long-run effects on their career paths and … managerial styles. Managers who began their careers during recessions become CEOs more quickly, but at smaller firms. They also … environment is important to the formation and selection of managers …

the collusive outcome is often greater when demand is high. To moderate this temptation,the optimizing oligopoly reduces … support our theory. (J.E.L. Classification numbers:020, 130, 610) …