buyers have heterogeneous storage technologies, periodic sales may facilitate collusion by magnifying intertemporal linking …

This paper studies the efficiency of collusion between supervisors and supervisees. Building on Tirole (1986)’s results … that deterring collusion with infinitely risk averse supervisors is impossible, while it is costless to do so under risk … neutrality, we develop here a theory of collusion based on a trade-off between the risk premia required by (less extreme) risk …

optimal contract trades-off the supervisor's incentives to reveal his information with an insurance motive. This contract can … be identified with the one obtained in a simple hard information model of hierarchical collusion with exogenous … transaction costs. Now, transaction costs are endogenous and depend on the collusion stake, the accuracy of the supervisory …

The conventional view that product heterogeneity limits the scope for collusion among oligolpolists has been challenged … leads to a decrease in the correlation of the firms? demand shocks. With imperfect monitoring, this makes collusion more …

must periodically reduce prices in order to sustain collusion when goods are storable and the market is large. The largest …. Sales foster collusion, by magnifying the intertemporal links in consumers' decisions. …