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century. These established markets are completely dominated by an incumbent cartel composed of several member shipping lines …I examine the outcomes of cases of entry by merchant shipping lines into established markets around the turn of the …. The cartel makes the decision whether or not to begin a price war against the entrant; some entrants are formally admitted …
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century. These established markets are completely dominated by an incumbent cartel composed of several member shipping lines …I examine the outcomes of cases of entry by merchant shipping lines into established markets around the turn of the …. The cartel makes the decision whether or not to begin a price war against the entrant; some entrants are formally admitted …
Persistent link: https://www.econbiz.de/10012473179
We present a two-firm model of predation under complete information, based on different discount factors, and integrate it with a model of collusion. Competition, collusion and predation are seen as alternative strategies. The basic conclusions are that there is predation when one firm has a...
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This is a survey of the economic principles that underlie antitrust law and how those principles relate to competition policy. We address four core subject areas: market power, collusion, mergers between competitors, and monopolization. In each area, we select the most relevant portions of...
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Though economists have made substantial progress toward formulating theories of collusion in industrial cartels that account for a variety of fact patterns, important puzzles remain. Standard models of repeated interaction formalize the observation that cartels keep participants in line through...
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