This chapter first reviews the economic theory underlying the unilateral competitive effects of mergers, focusing on …

theory, moreover, demonstrates that privately unprofitable mergers can be the result of rational action. Therefore, we drop …

We analyze how leniency affects cartel pricing in an infinitely-repeated oligopoly model where the fine rates are … we focus on the worst possible outcome. We investigate the maximal cartel price, the largest price for which the … conditions for sustainability hold. We analyze how the maximal cartel price supported by different cartel strategies adjusts in …

process innovation affect channel structure and effort investment incentives? 2) What are the interactions between … organizational incentives to form joint ventures and strategic alliances with competitors, and coordinate decisions vertically with …. Investment incentives are best provided when firms share their process knowledge and are buffered from subsequent price …

We analyze maximal cartel prices in infinitely-repeated oligopoly models under leniency where fines are linked to … collusion. We introduce cartel culture that describes how likely cartels persist after each conviction. Our analysis … disentangles the effects of traditional antitrust regulation, leniency, and cartel strategies. Without rewards to the strictly …

This paper analyzes the inner workings of cartels. To understand how sanctioning institutions prevent cartel formation … suggests that sanctions are effective in hindering cartel formation not only because they introduce a risk of being fined but …

cooperation, undercutting is defection. Jointly, competitors are better off if both are faithful to a cartel. Individually, profit … is highest if only the competitor(s) is (are) loyal to the cartel. Yet collusion inflicts harm on the opposite market …