punishment. Collusion is thus more difficult, the closer firms cooperate in manufacturing. Moreover, given competition or … collusion in the market, joint production yields the highest profit and welfare. …

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

critical discount factor required to sustain collusion. This result is shown to hold for Cournot oligopoly as well as for … Bertrand oligopoly when collusion is sustained with Nash-reversion strategies or optimal-punishment strategies. In a Cournot …

policy. We address four core subject areas: market power, collusion, mergers between competitors, and monopolization. In each …

constrained. We show that collusion sustainability is non-monotonic in the size of the capacity constrained firm, which has little …

This paper studies the effect of forward contracts on the stability of collusion among firms, competing in supply … functions on the spot market. A forward market can increase the range of discount factors which allow to sustain collusion. On … the contrary, collusion is destabilised when a potential deviator sells a significant amount forward. Results do not …

besides reducing the agency costs of debt finance also greatly facilitate tacit collusion in product markets. Concentrated or …-proofness), thereby "exporting" collusion through leverage in otherwise competitive downstream product markets. …

This paper contributes to the study of tacit collusion by analyzing infinitely repeated multiunit uniform price … number of steps, maximal collusion is attained with simple price-quantity strategies exhibiting capacity withholding. …