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Harmful Signals - Cartel Prohibition and Oligopoly Theory in the Age of Machine Learning

Thomas, Stefan - 2019

communicative acts. Some authors therefore conclude that the cartel prohibition of Article 101 TFEU or Section 1 of the U.S. Sherman …

Persistent link: https://www.econbiz.de/10012869810

Assessing autonomous algorithmic collusion : Q-learning under short-run price commitments

Klein, Timo - 2018 - Revision: September 2018

A novel debate within competition policy and regulation circles is whether autonomous machine learning algorithms may learn to collude on prices. We show that when fims face short-run price commitments, independent Q-learning (a simple but well-established self-learning algorithm) learns to...

Persistent link: https://www.econbiz.de/10011869980

Algorithms, Machine Learning, and Collusion

Schwalbe, Ulrich - 2018

This paper discusses the question whether self-learning price-setting algorithms are able to coordinate their pricing behaviour to achieve a collusive outcome that maximizes the joint profits of the firms using these algorithms. While the legal literature generally assumes that algorithmic...

Persistent link: https://www.econbiz.de/10012912903

The Empirical Basis for Antitrust : Cartels, Mergers, and Remedies

Langenfeld, James - 2017

There have been a number of studies attempting to quantify the impact of cartels and mergers on prices. The state of the art of empirical analysis related to antitrust is best illustrated by the research of John Connor and John Kwoka. Connor summarizes the existing empirical research that...

Persistent link: https://www.econbiz.de/10012944581

How communication makes the difference between a cartel and tacit collusion : a machine learning approach

Andres, Maximilian; Bruttel, Lisa Verena; Friedrichsen, Jana - 2022

This paper sheds new light on the role of communication for cartel formation. Using machine learning to evaluate free … cartel formation and indirect attempts to collude tacitly. We document that firms are less likely to communicate explicitly … sanctions on communication reinforces the direct cartel-deterring effect of sanctions as collusion is more difficult to reach …

Persistent link: https://www.econbiz.de/10013164725

How communication makes the difference between a cartel and tacit collusion : a machine learning approach

Andres, Maximilian; Bruttel, Lisa Verena; Friedrichsen, Jana - 2022

Persistent link: https://www.econbiz.de/10013418834

Autonomous algorithmic collusion : economic research and policy implications

Assad, Stephanie; Calvano, Emilio; Calzolari, Giacomo; … - In: Oxford review of economic policy 37 (2021) 3, pp. 459-478

Persistent link: https://www.econbiz.de/10012655281

Reduced demand uncertainty and the sustainability of collusion : How AI could affect competition

O'Connor, Jason; Wilson, Nathan E. - In: Information economics and policy : IEP 54 (2021), pp. 1-22

Persistent link: https://www.econbiz.de/10012655874

Algorithmic and human collusion

Werner, Tobias - 2021

As self-learning pricing algorithms become popular, there are growing concerns among academics and regulators that algorithms could learn to collude tacitly on non-competitive prices and thereby harm competition. I study popular reinforcement learning algorithms and show that they develop...

Persistent link: https://www.econbiz.de/10012661268

Machine learning, market manipulation and collusion on capital markets : Why the “Black Box” matters

Azzutti, Alessio; Ringe, Wolf-Georg; Stiehl, Hans Siegfried - 2021

This paper offers a novel perspective on the implications of increasingly autonomous and “black box” algorithms, within the ramification of algorithmic trading, for the integrity of capital markets. Artificial intelligence (AI) and particularly its subfield of machine learning (ML) methods...

Persistent link: https://www.econbiz.de/10012587161

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