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Marketing Agencies and Collusive Bidding in Online Ad Auctions
Decarolis, Francesco - 2017
The transition of the advertising market from traditional media to the internet has induced a proliferation of marketing agencies specialized in bidding in the auctions that are used to sell ad space on the web. We analyze how collusive bidding can emerge from bid delegation to a common...
Persistent link: https://www.econbiz.de/10012944647
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Collusion at the Extensive Margin
Byford, Martin C. - 2014
from, individual markets. We show that this gives rise to a new mechanism by which a cartel can sustain a collusive …
Persistent link: https://www.econbiz.de/10013053469
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Entry and Predation : British Shipping Cartels 1879-1929
Scott Morton, Fiona M. - 2021
century. These established markets are completely dominated by an incumbent cartel composed of several member shipping lines …. The cartel makes the decision whether or not to begin a price war against the entrant; some entrants are formally admitted … to the cartel without any conflict. I use characteristics of the entrant to predict whether or not the entrant will …
Persistent link: https://www.econbiz.de/10013222218
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Empirical Evidence for Collusion in the U.S. Auto Market?
Lambson, Val E.; Richardson, J. David - 2021
A supergame theoretic price-setting model of collusion is calibrated to data from the North American passenger car market before, during, and after the voluntary restraint arrangements (VRAs) with Japan. Conclusions about whether the model is consistent with the bans from the various regimes...
Persistent link: https://www.econbiz.de/10013236785
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Sticky Prices, Coordination and Collusion
Driscoll, John C.; Ito, Harumi - 2021
; this is equivalent to modeling firms as an implicit cartel playing a punishment game. We show that coordination can …
Persistent link: https://www.econbiz.de/10013249355
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Strategic Use of Antidumping Law to Enforce Tacit International Collusion
Staiger, Robert W.; Wolak, Frank - 2021
We consider the impact of domestic antidumping law in a two-country partial equilibrium model where domestic and foreign firms tacitly collude in the domestic market. Firms engage in an infinitely repeated game, with each period composed of a two-stage game. In the first stage each firm chooses...
Persistent link: https://www.econbiz.de/10013210568
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An Instrumental Variable Approach to Dynamic Models
Berry, Steven; Compiani, Giovanni - 2023
We present a new class of methods for identification and inference in dynamic models with serially correlated unobservables, which typically imply that state variables are econometrically endogenous. In the context of Industrial Organization, these state variables often reflect econometrically...
Persistent link: https://www.econbiz.de/10014346917
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A Supergame-Theoretic Model of Business Cycles and Price Wars During Booms
Rotemberg, Julio J.; Saloner, Garth - 2021
This paper studies implicitly colluding oligopolists facing fluctuating demand. The credible threat of future punishments provides the discipline that facilitates collusion. However, we find that the temptation to unilaterally deflate from the collusive outcome is often greater when demand is...
Persistent link: https://www.econbiz.de/10013228647
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The Impact of Cartelization, Money, and Productivity Shocks on the International Great Depression
Cole, Harold L. - 2013
model framework, we use the fact that many cartel policies are observationally equivalent to a country-specific labor tax … wedge. We estimate a monetary DSGE model with cartel wedges along with productivity and monetary shocks. Our main finding is … that cartel policy shocks account for the bulk of the Depression in the countries that adopted significant cartel policies …
Persistent link: https://www.econbiz.de/10013086305
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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/10013056583