it is detected. We propose a theory of "equilibrium price cutting and business stealing" in cartels to bridge this gap … between theory and observation …

from, individual markets. We show that this gives rise to a new mechanism by which a cartel can sustain a collusive …

; this is equivalent to modeling firms as an implicit cartel playing a punishment game. We show that coordination can …

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 …

of oligopoly concerns resulting from mergers. In this paper, we provide a critique of Bork's views on merger policy from …