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An experiment is conducted were subjects interact repeatedly to examine the effect of a particular leniency program on cartel formation, cartel stability and cartel recidivism. The program leads to lower prices for three reasons. First, non-cooperators are more persistent in their behavior which...
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defined insurance and non-insurance markets based on the initial loss size, we develop theory to show that insurers with buyer … our theory and find support. Monopolistic insurer-subjects in non-insurance markets increase loss sizes to establish …
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