A usual assumption in the theory of collusion is that cartels are all-inclusive. In contrast, most real-world collusive …, which firms are part of it. The second aim of the experiment is to study the coordinated effects of a merger when partial … after a merger. Our findings suggest that merger analysis that is based on the assumption that only full cartels forms …

A usual assumption in the theory of collusion is that cartels are all-inclusive. In contrast, most real-world collusive …, which firms are part of it. The second aim of the experiment is to study the coordinated effects of a merger when partial … after a merger. Our findings suggest that merger analysis that is based on the assumption that only full cartels forms …

rather than exogenous merger theory. More surprisingly, our data suggests that fairness considerations also make profitable … profitable merger does not occur, because it is even more profitable for each firm to unilaterally stand as an outsider (Kamien …

communication. Using a repeated, asymmetric capacity constraint price game, we show that, in line with theory, a partial cartel is …

The objective of this paper is to use laboratory experiments to test the dynamic theory of free riding among the target … shareholders during a takeover attempt. We construct our experiments to reflect the dynamics of unconditional bidding suggested by … bidding. Thus the actual behavior of shareholders is characterized by much less free riding than predicted by the theory of …