I study an indefinitely repeated game where firms differ in size. Attempts to form cartels in such an environment, for example by rationing outputs in a manner linked to firm size differences, have generally struggled. Any successful cartel has to set production shares in a manner that ensures...

This paper reports 45 laboratory duopoly markets that examine the importance of information sharing in facilitating tacit collusion under conditions of demand uncertainty. Sellers in these repeated laboratory markets generally shared information when possible to reduce their demand uncertainty,...

This paper reports 45 laboratory duopoly markets that examine the importance of information sharing in facilitating tacit collusion under conditions of demand uncertainty. Sellers in these repeated laboratory markets generally shared information when possible to reduce their demand uncertainty,...

Two duopoly market structures are experimentally constructed. Payoff tables describe basic conditions in an X market and a Y market. In one market structure two rivals choose X quantities and a different set of rivals choose Y quantities. These markets develop equilibria independently. A second...

In this paper, we analyze the question of membership in a non-renewable resource cartel, with specific application to OPEC. One would expect the benefits of cartel membership to be positively related to the size of remaining reserves, while domestic petroleum consumption should be negatively...

In this paper, we analyze the question of membership in a non-renewable resource cartel, with specific application to OPEC. Using a simple model of a non-renewable resource market, we show that the benefits of cartel membership are related to the size of remaining reserves. Domestic petroleum...