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In this note we analyze the sustainability of collusion in a game of repeated interaction where firms can price discriminate among consumers based on two types of customer data. This work is related to Liu and Serfes (2007) and Sapi and Suleymanova (2013). Following Sapi and Suleymanova we...
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We analyze a sample of consumer-electronics products sold by the US NewEgg online-retailer to study the impact of Price Matching Guarantees (PMGs) policies on prices. By applying aDifference-in-Differences approach,we find that prices of the policy-adopting retailer increase by 4.7% during the...
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collusion and merely consumer rents are transferred, or both welfare and consumer rents are reduced. An all-inclusive cartel …
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This paper analyzes price discrimination of an upstream cartel in the presence of a dominant firm at the retail level …. Charging different wholesale prices creates a bond between the upstream cartel and the favored downstream firm. This bond … reduces or eliminates this firm's incentives to accept deviation offers from upstream cartel members. When a cartel price …
Persistent link: https://www.econbiz.de/10012845583
We examine recent claims that a particular Q-learning algorithm used by competitors 'autonomously' and systematically learns to collude, resulting in supracompetitive prices and extra profits for the firms sustained by collusive equilibria. A detailed analysis of the inner workings of this...
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This paper undertakes a critical review of the prospect that self-learning pricing algorithms will lead to widespread collusion independently of the intervention and participation of humans. There is no concrete evidence, no example yet, and no antitrust case that self-learning pricing...
Persistent link: https://www.econbiz.de/10013212718