antitrust authorities in each market. We are concerned with how the sustainability of collusion in one local market is affected … by the existence of collusion in other markets when they are linked by demand relationships. The interdependence of … collusion sustainability across markets leads to potential externalities in antitrust enforcement across jurisdictions. As a …

I extend multi-unit auction estimation techniques to a setting in which firms can express cost complementarities over … time. In the context of electricity markets, I show how the auction structure and bidding data can be used to estimate …

characteristic function, derived from the partition form game, is not empty. As an application, we study collusion in auctions in …

-cost firm under incomplete information: a separating auction implies adverse selection and relies substantially on commitment to … allocation and transfer rules. A pooling auction serves as a commitment device against ex-post opportunistic behavior and … alleviates adverse selection. It can earn the investor a higher expected payoff than a separating auction, even when consistency …

average price in the market can be countercyclical if the entrant is a first mover, and capacity utilization can be either pro … firm can either amplify or dampen the effect of demand fluctuations on prices, price-cost margins, and capacity utilization. …