Letters, 124: 122-126) show that in a vertically related market Cournot competition yields higher social welfare compared to … of input they purchase. We show that the welfare ranking may be reversed once we introduce a nonnegativity constraint on …

strategically linked via the incentive compatibility constraint. Importantly, trade costs affect cartel shipments and welfare not …

expected total social welfare than the repeated one-shot Nash equilibrium. In other regions, welfare is identical under … collusion and merely consumer rents are transferred, or both welfare and consumer rents are reduced. An all-inclusive cartel … maximizing industry profit increases welfare for an even larger set of parameters, but may also be detrimental to it. …

that the reversal in profits is responsible for a reversal in the welfare performance of the industry. …

prices and decreased consumer welfare. Joint outsourcing is more profitable if the firms' equilibrium quantity produced is in …This work models outsourcing under oligopolistic competition with nonlinear costs. I show that in a covered market, if … each firm's marginal cost before outsourcing is lower than the industry's average cost, outsourcing leads to increased …