communication. Using a repeated, asymmetric capacity constraint price game, we show that, in line with theory, a partial cartel is … sufficient to increase market prices for all firms. Moreover, we find that prices of cartel insiders and outsiders are not … necessarily on the same level what contradicts common theoretical predictions. This is because communication allows cartel members …

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 …