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of voluntary collusion (Cowen 1992, Cowen and Sutter 1999). Playing off this asymmetry, Cowen (1992) advances the novel … argument that the “free market in defense services” favored by anarcho-capitalists is a network industry where collusion is … analysis. Furthermore, libertarians' joint beliefs on public goods and collusion are, contrary to Cowen and Sutter (1999 …
Persistent link: https://www.econbiz.de/10005722257
In this paper, we model networks of relational contracts. We explore sanctioning power within these networks under … other network members. We identify conditions for stability of such networks, conditions for transmission of information …
Persistent link: https://www.econbiz.de/10005329020
We model networks of relational (or implicit) contracts, exploring how sanctioning power and equilibrium conditions … and in-network information transmission as well as conditions under which stable sub-networks inhibit more valuable larger … networks. The model provides formal definitions for individual and communities’ ‘social capital’ in the spirit of Coleman and …
Persistent link: https://www.econbiz.de/10005114333
competition. Collusion lowers welfare for all consumers and is most frequent when many consumers prefer comparable offers. In …
Persistent link: https://www.econbiz.de/10010939418
We run a market experiment where firms can choose not only their price but also whether to present comparable offers. They are faced with artificial demand from consumers who make mistakes when assessing the net value of products on the market. If some offers are comparable however, some...
Persistent link: https://www.econbiz.de/10010942823
In this note we analyze the sustainability of collusion in a game of repeated interaction where firms can price … improvement in data quality it is more difficult to sustain collusion. …
Persistent link: https://www.econbiz.de/10010956721
sufficiently. We alsoshow that a lower cost of copying facilitates collusion but that a higherquality of the copy hinders collusion …
Persistent link: https://www.econbiz.de/10005082634
is highest if only the competitor(s) is (are) loyal to the cartel. Yet collusion inflicts harm on the opposite market … we add beliefs as a control variable, we only find that externalities enhance cooperation, even if gains from collusion …
Persistent link: https://www.econbiz.de/10009021689
discussed appear relevant to the fight of other forms of multiagent organized crime - like auditor-manager collusion, financial …
Persistent link: https://www.econbiz.de/10005662235
We study the problem of information sharing in oligopoly, when sharing decisions are taken before the realization of private signals. Using the general model developed by Raith (1996), we show that if firms are allowed to make bilateral exclusive sharing agreements, then some degree of...
Persistent link: https://www.econbiz.de/10005057151