-push shock by paying a lump-sum adjustment cost in order to offset the initial rise in marginal cost. Our results show that the … size of the shock and the size of the adjustment cost jointly determine the nature and the number of the equilibria …

In this paper we verify the functioning of the standard neoclassical adjustment to equilibrium after a demand shock in … guaranteed. We show that the size of the demand shock determines the nature and number of equilibria generated by strategic …

level in an oligopoly supergame where a positive shock may hit demand and disrupt collusion. The novel feature of our model … consists in characterising the post-shock noncooperative price and comparing it against the cartel price played in the last …

-push shock by paying a lump-sum adjustment cost in order to offset the initial rise in marginal cost. Our results show that the … size of the shock and the size of the adjustment cost jointly determine the nature and the number of the equilibria …