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Vertical integration, raising rivals' costs and upstream collusion
Normann, Hans-Theo - 2008
This paper analyzes the impact vertical integration has on upstream collusion when the price of the input is linear. As … discount factor needed to sustain this equilibrium is then shown to be unambiguously lower than the one needed for collusion in …
Persistent link: https://www.econbiz.de/10010266966
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Vertical Integration, Raising Rivals' Costs and Upstream Collusion
Normann, Hans-Theo - 2010
This paper analyzes the impact vertical integration has on upstream collusion when the price of the input is linear. As … discount factor needed to sustain this equilibrium is then shown to be unambiguously lower than the one needed for collusion in …
Persistent link: https://www.econbiz.de/10012715691
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Equilibrium Vertical Foreclosure in the Repeated Game
Normann, Hans-Theo - EconWPA - 2004
are that foreclosure is in fact a subgame perfect Nash equilibrium of the repeated game, and it may facilitate collusion …
Persistent link: https://www.econbiz.de/10005076896
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Vertical Integration, Raising Rivals' Cost and Upstream Collusion
Normann, Hans-Theo - 2008
This paper analyzes the impact vertical integration has on upstream collusion when the price of the input is linear. As … discount factor needed to sustain this equilibrium is then shown to be unambiguously lower than the one needed for collusion in …
Persistent link: https://www.econbiz.de/10014028981
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Vertical Integration, Raising Rivals’ Costs and Upstream Collusion
Normann, Hans-Theo - Max-Planck-Institut zur Erforschung von … - 2008
This paper analyzes the impact vertical integration has on upstream collusion when the price of the input is linear. As … discount factor needed to sustain this equilibrium is then shown to be unambiguously lower than the one needed for collusion in …
Persistent link: https://www.econbiz.de/10005772760
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Vertical integration, raising rivals' costs and upstream collusion
Normann, Hans-Theo - 2008
This paper analyzes the impact vertical integration has on upstream collusion when the price of the input is linear. As … discount factor needed to sustain this equilibrium is then shown to be unambiguously lower than the one needed for collusion in … here. -- collusion ; foreclosure ; raising rivals' costs ; vertical integration …
Persistent link: https://www.econbiz.de/10003861823
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The Merger Paradox and Why Aspiration Levels Let it Fail in the Laboratory
Huck, Steffen; Konrad, Kai A.; Müller, Wieland; … - 2011
We study the merger paradox, a relative of Harsanyi's bargaining paradox, in an experiment. We examine bilateral mergers in experimental Cournot markets with initially three or four firms. Standard Cournot-Nash equilibrium predicts total outputs well. However, merged firms produce significantly...
Persistent link: https://www.econbiz.de/10014035254
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Through trial & error to collusion : the discrete case
Huck, Steffen; Normann, Hans-Theo; Oechssler, Joerg - 2000
In this note we study a very simple trial & error learning process in the context of a Cournot oligopoly. Without any knowledge of the payoff functions players increase, respectively decrease, their quantity by one unit as long as this leads to higher profits. We show that despite the absence of...
Persistent link: https://www.econbiz.de/10011538701
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Two are few and four are many : number effects in experimental oligopolies
Huck, Steffen; Normann, Hans-Theo; Oechssler, Joerg - 2001
oligopolies with two, three, four, and five firms in a unified frame. With two firms we find some collusion. Three …
Persistent link: https://www.econbiz.de/10011539897
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Through trial & error to collusion
Huck, Steffen; Oechssler, Joerg; Normann, Hans-Theo - 1999
In this note we study a very simple trial & error learning process in the context of a Cournot oligopoly. Without any knowledge of the payoff functions players increase, respectively decrease, their quantity by one unit as long as this leads to higher profits. We show that despite the absence of...
Persistent link: https://www.econbiz.de/10009580461