Madhavan, Ananth N; Masson, Robert T; Lesser, William H - In: The Review of Economics and Statistics 76 (1994) 1, pp. 161-75
This paper examines the ability of a large numbers cartel to raise price-cost margins. The cartel in question is a dairy cooperative, Associated Milk Producers, Inc. (AMPI), with more than 30,000 members. We develop a model of spatial limit pricing that we test using the method of Seemingly...
