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Sticky Prices, Coordination and Collusion
Driscoll, John C. - 1999
New Keynesian models of price setting under monopolistic competition involve two kinds of inefficiency: the price level … asymmetric. Implications for the welfare cost of fluctuations also differ from the standard monopolistic competition case …
Persistent link: https://www.econbiz.de/10012471622
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A Dynamic Oligopoly with Collusion and Price Wars
Fershtman, Chaim - 1999
. It is a symmetric information model in which it is hard to sustain collusion when either one of the firms does not keep …
Persistent link: https://www.econbiz.de/10012471871
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Tacit Collusion in the Presence of Cyclical Demand and Endogenous Capacity Levels
Knittel, Christopher R. - 2006
countercyclical. We also establish pricing patterns with respect to the relative prices in booms and recessions. If the marginal cost … intermediate range, numerical examples are calculated to show specific pricing patterns …
Persistent link: https://www.econbiz.de/10012466026
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Making friends with your neighbors? Agglomeration and tacit collusion in the lodging industry
Gan, Li - 2011
Agglomeration is a location pattern frequently observed in service industries such as hotels. This paper empirically examines if agglomeration facilitates tacit collusion in the lodging industry using a quarterly dataset of hotels that operated in rural areas across Texas between 2003 and 2005....
Persistent link: https://www.econbiz.de/10012461919
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Was the Forex Fixing Fixed?
Ito, Takatoshi - 2015
"Fixing" of the exchange rate (price) is a rule among the Forex market participating institutions to set a reference/settlement price for the day. Major fixings occur at 9:55 am Tokyo time for transactions between Japanese banks and their customers, and at 4:00 pm London time for transactions...
Persistent link: https://www.econbiz.de/10012457150
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Price Cutting and Business Stealing in Imperfect Cartels
Bernheim, B. Douglas - 2014
Though economists have made substantial progress toward formulating theories of collusion in industrial cartels that account for a variety of fact patterns, important puzzles remain. Standard models of repeated interaction formalize the observation that cartels keep participants in line through...
Persistent link: https://www.econbiz.de/10012458671
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Smokescreen : How Managers Behave When They Have Something To Hide
González, Tanja Artiga - 2013
We study financial reporting and corporate governance in 218 companies accused of price fixing. These firms engage in evasive financial reporting strategies, including earnings smoothing, segment reclassification, and restatements. In corporate governance, cartel firms favor outside directors...
Persistent link: https://www.econbiz.de/10012459775
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Does Entry Remedy Collusion? Evidence from the Generic Prescription Drug Cartel
Starc, Amanda; Wollmann, Thomas G. - National Bureau of Economic Research - 2022
behavior in the largest price fixing case in US history, which involves generic drugmakers. To do so, we link information on …
Persistent link: https://www.econbiz.de/10013172185
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Information Production and Capital Allocation : Decentralized vs. Hierarchical Firms
Stein, Jeremy C. - 2000
This paper assesses different organizational forms in terms of their ability to generate information about investment … likely to be attractive when information about individual projects is soft' and cannot be credibly transmitted. Moreover …, holding fixed firm size, soft information also favors flatter organizations with fewer layers of management. In contrast …
Persistent link: https://www.econbiz.de/10012471056
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Does Distance Still Matter? The Information Revolution in Small Business Lending
Petersen, Mitchell A. - 2000
The distance between small firms and their lenders in the United States is increasing. Not only are firms choosing more distant lenders, they are also communicating with them in more impersonal ways. After documenting these systematic changes, we demonstrate that they do not stem from small...
Persistent link: https://www.econbiz.de/10012471076