Describes and analyzes the formation, operation, and impacts of modern global cartels. This book provides a picture of the economics, competition law and history of international price fixing. It assesses whether antitrust enforcement by the European Union, the United States, and other countries...

We analyze tacit collusion in an industry characterized by cyclical demand and long-run scale decisions; firms face deterministic demand cycles and choose capacity levels prior to competing in prices. Our focus is on the nature of prices. We find that two types of price wars may exist. In one,...

This paper identifies conditions under which an industry-wide practice of posted (or list) pricing is a plus factor sufficient to conclude that firms violated Section 1 of the Sherman Act. For certain classes of markets, it is shown that, under competition, all firms setting a list price with a...