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of voluntary collusion (Cowen 1992, Cowen and Sutter 1999). Playing off this asymmetry, Cowen (1992) advances the novel … argument that the “free market in defense services” favored by anarcho-capitalists is a network industry where collusion is … analysis. Furthermore, libertarians' joint beliefs on public goods and collusion are, contrary to Cowen and Sutter (1999 …
Persistent link: https://www.econbiz.de/10005722257
We model networks of relational (or implicit) contracts, exploring how sanctioning power and equilibrium conditions … and in-network information transmission as well as conditions under which stable sub-networks inhibit more valuable larger … networks. The model provides formal definitions for individual and communities’ ‘social capital’ in the spirit of Coleman and …
Persistent link: https://www.econbiz.de/10005114333
although competition between incompatible networks is initially unstable and sensitive to competitive offers and random events …
Persistent link: https://www.econbiz.de/10014024585
discussed appear relevant to the fight of other forms of multiagent organized crime - like auditor-manager collusion, financial …
Persistent link: https://www.econbiz.de/10005662235
Persistent link: https://www.econbiz.de/10014309086
actions (positive reciprocity). We find that collusion is easier to sustain when firms have a concern for reciprocity towards …
Persistent link: https://www.econbiz.de/10009753710
policy. We address four core subject areas: market power, collusion, mergers between competitors, and monopolization. In each …
Persistent link: https://www.econbiz.de/10014023495
Empirical scholarship on the standards–trade relationship has been held up due to methodological challenges: measurement, varied effects, and endogeneity. Considering the trade-effects of one particular standard (ISO 9000), we surmount methodological challenges by measuring standardization via...
Persistent link: https://www.econbiz.de/10011051660
Empirical scholarship on the standards-trade relationship has been held up due to methodological challenges: measurement, varied effects, and endogeneity. Considering the trade-effects of one particular standard (ISO 9000), we surmount methodological challenges by measuring standardization via...
Persistent link: https://www.econbiz.de/10011084713
Clustering of IPO underwriting spreads at 7% poses two important puzzles: Is the market for U.S. equity underwriting services anti-competitive and why do equity underwriters invest in reputation-building? This study resolves both puzzles. Modeling endogeneity of firm-underwriter choice using a...
Persistent link: https://www.econbiz.de/10011334160