Motivated by the widespread presence both of decentralised unions and cross-participation at ownership level (for … extended with both equity participation of one firm in another firm and decentralised monopoly unions. We show that such a … common wisdom, while it holds when either unions or cross-ownership separately exist, is reversed for a fairly low degree of …

wages to the variability in productivity conditions in a unionised oligopoly framework. The model distinguishes centralised … firm heterogeneity under centralised wage-setting, as unions internalise negative externalities of a wage increase for low …

termination threats make collusion supportable at any discount factor, independent of contracts’ duration. When managers have …

Flexibility - the ability to react swiftly to others' choices - facilitates collusion by reducing gains from defection … before opponents react. Under imperfect monitoring, however, flexibility may also hinder collusion by inducing punishment … collusion. To test this subtle prediction we implement in the laboratory an indefinitely repeated Cournot game with noisy price …

policy. We address four core subject areas: market power, collusion, mergers between competitors, and monopolization. In each …

actions (positive reciprocity). We find that collusion is easier to sustain when firms have a concern for reciprocity towards …