Legal Regime Governing Retail, Wholesale, Distribution and Trading Sectors 1992-2000. The article traces the gradual opening of the retail sectors to foreign investment in China, from when “one or two” retail joint ventures were first permitted in 1992, through periodic loosening, tightening...

We investigate how the structure of the distribution channel affects tacit collusion between manufacturers. When selling through a common retailer, we find - in contrast to the conventional understanding of tacit collusion that firms act to maximize industry profits - that colluding...

Asymmetric pricing is the phenomenon where prices rise more readily than they fall. We articulate, and provide empirical support for, a theory of asymmetric pricing in wholesale prices. In particular, we show how wholesale prices may be asymmetric in the small but symmetric in the large, when...