cancel their procurements and resolicit bids after qualifying additional suppliers. Recent cartel cases show that cartels … potential for buyer resistance, the payoff to firms from forming a cartel exceeds that from merging. Thus, firms considering a … merger may have an incentive to collude instead. We discuss implications for antitrust and merger policy. …

A usual assumption in the theory of collusion is that cartels are all-inclusive. In contrast, most real-world collusive …) model where firms are heterogeneous in terms of production capacities and individual cartel decisions are endogenized. The …, which firms are part of it. The second aim of the experiment is to study the coordinated effects of a merger when partial …

We investigate the impact of cartel breakdowns on merger activity. Merging information on cartel cases decided by the … average number of all merger transactions increase by up to 51 percent when comparing the three years before the cartel … European Commission (EC) between 2000 and 2011 with a detailed data set of worldwide merger activity, we find that, first, the …

research in the areas of collusion and merger enforcement. Research relating to both collusion and mergers has made significant …-based measurement) and theoretical work in advancing our understanding of collusive and merger-related phenomena …