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challenge for optimal antitrust enforcement. We integrate the mentioned legal principles into an infinitely-repeated oligopoly …
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In this paper we set out the welfare economics based case for imposing cartel penalties on the cartel overcharge rather than on the more conventional bases of revenue or profits (illegal gains). To do this we undertake a systematic comparison of a penalty based on the cartel overcharge with...
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orientation. Individuals who are rivalistic in an allocation task indeed bid more aggressively in a laboratory oligopoly market …
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We examine the profitability of cross-ownership in an oligopolistic industry where firms compete as Cournot rivals. We consider a symmetric cross-ownership structure in which a subset of k firms engage in cross-shareholding and each firm has an equal silent financial interest in the other firms,...
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The literature on cartel stability sidelines antitrust policy, whereas the literature on antitrust policy tends to neglect issues of cartel stability. This paper attempts to connect these two interrelated aspects in the context of an augmented quantity leadership model. The cartel is the...
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reconciled with principles of oligopoly theory. This article (1) presents a fundamental reconceptualization of our understanding …
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