This paper shows that obligations from debt hinder tacit collusion if equity owners are protected by limited liability …

This paper examines the feasibility of collusion in capacity constrained duopoly supergames. In each period firms … yielding (constrained) Pareto optimal payoffs. That is, price shading may not only be consistent with successful collusion, it … may be a requirement of successful collusion. …

collusion game. Consistent with the existing literature on communication and collusion, even minimal communication leads to a … short run increase in collusion. However, in a limited message-space treatment where subjects cannot communicate contingent … strategies, this initial burst of collusion rapidly collapses. When unlimited pre-game communication is allowed via a chat window …

sustain collusion the lower the search cost. In other words increased transparency may facilitate collusion even if the …

substitutability and is greater than partial output and full collusion. Overall we find that output collusion alone is easier to …