stakes of collusion. On the other hand, it creates an asymmetry between the integrated firm and the unintegrated competitors … cooperative equilibrium, which potentially harms collusion. As we show, the optimal collusive profit-sharing agreement takes care … the asymmetries in the non cooperative state. As a result, vertical integration generally favors 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 …

less inclined to collude than men when collusion harms a third party. No gender difference can be found in the absence of a … distance is small they hardly behave collusively when collusion harms a third party. …

We study the implications of credit constraints for the sustainability of product market collusion in a bank … degree of collusion, but a substantial increase keeps it unaffected relative to the no-constraint case. A permanent adverse … demand shock in this setup does not affect the possibility of collusion, but may aggravate financing constraints and …

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