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Do pay-as-bid auctions favor collusion? : evidence from Germany’s market for reserve power
Heim, Sven; Goetz, Georg - 2013
behavior in an environment with repeated auctions, pivotal suppliers and inelastic demand. The price increase can be traced … back to an abuse of the auction’s pay-as-bid mechanism by the two largest firms. In contrast to theoretical findings, we … show that pay-as-bid auctions do not necessarily reduce incentives for strategic capacity withholding and collusive …
Persistent link: https://www.econbiz.de/10009751726
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Legal and illegal cartels in the European cement industry
Fink, Nikolaus; Frübing, Stefan - 2015
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...
Persistent link: https://www.econbiz.de/10011334610
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Minority share acquisitions and collusion : evidence from the introduction of national leniency programs
Heim, Sven; Hüschelrath, Kai; Laitenberger, Ulrich; … - 2017
There is a growing concern that minority shareholding (MS) in rival firms may facilitate collusion. To examine this …
Persistent link: https://www.econbiz.de/10011730845
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Information exchange through non-binding advance price announcements : an antitrust analysis
Boshoff, Willem H.; Frübing, Stefan; Hüschelrath, Kai - 2015
We study the welfare effects of non-binding advance price announcements. Applying a differentiated Bertrand model with horizontal products and asymmetric information, we find that such announcements can help firms to gain information on each other thereby allowing them to achieve higher profits....
Persistent link: https://www.econbiz.de/10011316431
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Registered cartels in Austria : an overview
Fink, Nikolaus; Schmidt-Dengler, Philipp; Stahl, Konrad; … - 2015 - This version: 16 November 2015
contracts, we comprehensively document different collusion methods along the lines described by Stigler (1964). Quota cartels … legally binding agreements was employed to address the usual obstacles to sustaining collusion. …
Persistent link: https://www.econbiz.de/10011393136
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The discontent cartel member and cartel collapse : the case of the German cement cartel
Harrington, Joseph Emmett; Hüschelrath, Kai; … - 2014
We hypothesize a particular source of cartel instability and explore its relevance to understanding cartel dynamics. The cartel instability is rooted in the observation that, upon cartel formation, the relative positions of firms are often fixed which may lead some growthconscious members to be...
Persistent link: https://www.econbiz.de/10010424815
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Registered cartels in Austria : coding protocol
Fink, Nikolaus; Schmidt-Dengler, Philipp; Stahl, Konrad; … - 2014
In the period following WW II. until the country accessed the European Union, cartels were legalized in Austria, upon registration with the Austrian Cartel Court. We obtained access to the registration data, and scanned them all towards a microeconomic analysis of contracting behavior between...
Persistent link: https://www.econbiz.de/10010458226
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Competition, collusion and spatial sales patterns : theory and evidence
Hunold, Matthias; Hüschelrath, Kai; Laitenberger, Ulrich; … - 2017
We study competition in markets with significant transport costs and capacity constraints. We compare the cases of price competition and coordination in a theoretical model and find that when firms compete, they more often serve more distant customers that are closer to plants of competitors. By...
Persistent link: https://www.econbiz.de/10011724001
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Competition, collusion and spatial sales patterns : theory and evidence
Hunold, Matthias; Hüschelrath, Kai; Laitenberger, Ulrich; … - 2017 - This version: December 31, 2017
We study competition in markets with significant transport costs and capacity constraints. We compare the cases of price competition and coordination in a theoretical model and find that when firms compete, they more often serve more distant customers that are closer to plants of competitors. By...
Persistent link: https://www.econbiz.de/10011778632
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Rent sharing to control non-cartel supply in the German cement market
Harrington, Joseph Emmett; Hüschelrath, Kai; … - 2016
A challenge for many cartels is avoiding a destabilizing increase in non-cartel supply in response to having raised price. In the case of the German cement cartel that operated over 1991-2002, the primary source of non-cartel supply was imports from Eastern European cement manufacturers....
Persistent link: https://www.econbiz.de/10011443774