Showing 1 - 10 of 43
We analyse a principal-agent relationship in the context of international climate policy. Principals in two countries first decide whether to merge domestic emission permit markets to an international market, then delegate the domestic permit supply to an agent. We find that principals select...
Persistent link: https://www.econbiz.de/10011685912
International carbon markets are frequently propagated as an efficient instrument for reducing CO2 emissions. We argue that such markets, despite their desirable efficiency properties, might not be in the best interest of governments who are guided by strategic considerations in negotiations. We...
Persistent link: https://www.econbiz.de/10012216806
We analyze the effects of downstream firms' acquisition of pure cash flow rights in an efficient upstream supplier when all firms compete in prices. With an acquisition, downstream firms internalize the effects of their actions on their rivals' sales. Double marginalization is enhanced. Whereas...
Persistent link: https://www.econbiz.de/10010308299
We analyze the effects of downstream firms' acquisition of pure cash flow rights in an efficient upstream supplier when all firms compete in prices. With an acquisition, downstream firms internalize the effects of their actions on their rivals' sales. Double marginalization is enhanced. Whereas...
Persistent link: https://www.econbiz.de/10010985660
The paper assesses the impact of the detection of a hard-core cartel in the Swiss market for road surfacing on post-cartel competition. In addition to an investigation of supply-side factors, demand-side factors, and market prices, the paper also derives estimates of the economic effects of the...
Persistent link: https://www.econbiz.de/10010299839
Although the pricing dynamics of hardcore cartels have been studied intensively from a theoretical perspective … increase profits. Our results have important implications for both the design of screening tools to detect cartels as part of …
Persistent link: https://www.econbiz.de/10010307841
with an elevated risk of cartelization. We argue that customers of hard core cartels can have both incentives and … endeavour to fight hard core cartels. …
Persistent link: https://www.econbiz.de/10010307848
procedural efficiency of cartel enforcement in the European Union (EU). We use a data set consisting of 84 cartels decided by the …
Persistent link: https://www.econbiz.de/10011314566
Due to being much better documented, legal cartels have recently attracted the interest of many researchers who aim to … understand the functioning of illegal cartels in detail. This paper contributes to the question of what we can learn from legal … cartels by taking a closer look at the cement industry which has a rich history of both legal and illegal cartels. We …
Persistent link: https://www.econbiz.de/10011335346
Cartels were legal to a large extent in Austria until the country's EU Accession in 1995. We examine archival material … on registered horizontal cartels to learn about their inner working. Applying content analysis to legally binding cartel … contracts, we comprehensively document different collusion methods along the lines described by Stigler (1964). Quota cartels …
Persistent link: https://www.econbiz.de/10011393273