Showing 1 - 10 of 49
This paper analyzes financial institutions' capital allocation decisions when their required equity capital depends on the risk of their projects chosen. We discuss the relevance of strict position limits against discretionary trading through the use of an optimal compensation function. We show...
Persistent link: https://www.econbiz.de/10005661956
The deregulation of the telecommunications industry has resulted in a variety of industry structures which have been created in the hope of increasing competition. One example is the licensing of cellular telephone services in the United States. In the face of scarce radio spectrum, the Federal...
Persistent link: https://www.econbiz.de/10005504383
highlight the deficiencies in the current formal theory of collusion. The Sugar Institute did not fix prices or output. Prices …
Persistent link: https://www.econbiz.de/10005504565
corresponding to different nexi of collusion between the principal and/or the experts. …
Persistent link: https://www.econbiz.de/10005497724
The impact of demand growth on the collusion possibilities is investigated in a Cournot supergame where market growth …' available. It is shown that even in situations where perfect collusion can be sustained after entry, coping with a potential …
Persistent link: https://www.econbiz.de/10005497875
-antitrust forms of collusion, such as collusion between auditors and management, and more generally to corporate and organized crime. …
Persistent link: https://www.econbiz.de/10005498010
efficient mechanism to implement collusion among merchants and rulers, building on the natural complementarity between merchants …
Persistent link: https://www.econbiz.de/10004976786
This paper reports results from an experiment studying how fines, leniency programs and reward schemes for whistleblowers affect cartel formation and prices. Antitrust without leniency reduces cartel formation, but increases cartel prices: subjects use costly fines as (altruistic) punishments....
Persistent link: https://www.econbiz.de/10004976790
This model describes the working of hub-and-spoke collusion that has been discussed recently by competition policy … authorities. We develop a model of tacit collusion between a manufacturer and two retailers, competing a la Rotemberg and Saloner …
Persistent link: https://www.econbiz.de/10011083474
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 …
Persistent link: https://www.econbiz.de/10011084106