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are descriptive but need not be universally valid. This paper opens up the black box called econometrics for competition …
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A competition authority has an objective, which specifies what output profile firms need to produce as a function of production costs. These costs change over time and are only known by the firms. The objective is implementable if inequilibrium, the firms cannot collude on their reports to the...
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I find that current US's and EU's Antitrust laws -- in particular their "moderate" leniency programmes that only reduce or at best cancel sanctions for price-fixing firms that self-report -- may make collusion enforceable even in one-shot competitive interactions, like Bertrand oligopolies and...
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We conduct an experimental study of cartel behaviour in the presence of an active competition authority that may … of potential antitrust prosecution tends to improve the internal functioning of cartels. Cartel stability is … significantly higher and punishment weaker in the treatments with active cartel detection relative to the treatment where cartels …
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