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

Traditional economic theory of collusion assumed that cartels are inherently unstable, and yet some manage to operate …

sanctions on communication reinforces the direct cartel-deterring effect of sanctions as collusion is more difficult to reach …

constrained. We show that collusion sustainability is non-monotonic in the size of the capacity constrained firm, which has little …

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 …

, collusion. …

We investigate the effect of a ban on third-degree price discrimination on the sustainability of collusion. We build a …’ discount factor has to be higher in order to sustain collusion in grim-trigger strategies under price discrimination than under …