facilitate collusion among agents, which induces an additional trade-off between reputational forces and collusion. When non …-contractible dimensions are very important this last trade-off may disappear, as collusion allows more efficient enforcement of better …

In this Paper we investigate the impact of vertical mergers on upstream firms’ ability to sustain collusion. We show in … a number of models that the net effect of vertical integration is to facilitate collusion. Several effects arise. When … upstream offers are secret, vertical mergers facilitate collusion through the operation of an outlets effect: cheating …

organization. Second, to break collusion between agents, the principal must use discriminatory tournament schemes. In some cases …, however, there does not exist an incentive scheme to overcome collusion. …

firms to collude. We analyse the scope for collusion with and without resale price maintenance (RPM) when retailers observe … collusion and it reduces total welfare whenever firms choose to adopt it. …

indivisible costs of collusion, we show that: (i) firms may have an incentive to merge so as to create asymmetric market … higher risk of collusion. Thus, these results have implications for the practice of the current EU and US merger policies. …

the sustainability of collusion when prices are assumed to be discrete rather than continuous. The sign of these effects …