von Auer, Ludwig; Pham, Tu Anh - 2021
This paper introduces an oligopoly model that includes three actors: a cartel (comprising two or more firms that … operate like one merged company), a group of competing fringe firms, and a welfare maximizing antitrust authority. The cartel …. The cartel is internally stable if none of its member firms finds it profitable to become a fringe firm. The antitrust …