This paper shows how price leadership bans imposed, as part of the European Commission's State aid control, on all main mortgage providers but the largest bank shifted the Dutch mortgage market from a competitive to a collusive price leadership equilibrium. In May 2009, mortgage rates in The...

We experimentally study the effect of information about competitors ́actions on cartel stability and firms ́incentives to form cartels in Cournot markets. As in previous experiments, markets become very competitive when individualized information is available and participants cannot...

A novel debate within competition policy and regulation circles is whether autonomous machine learning algorithms may learn to collude on prices. We show that when fims face short-run price commitments, independent Q-learning (a simple but well-established self-learning algorithm) learns to...