punishment. Collusion is thus more difficult, the closer firms cooperate in manufacturing. Moreover, given competition or … collusion in the market, joint production yields the highest profit and welfare. …

This paper shows that obligations from debt hinder tacit collusion if equity owners are protected by limited liability …

This paper shows that obligations from debt hinder tacit collusion if equity owners are protected by limited liability …

This paper examines the feasibility of collusion in capacity constrained duopoly supergames. In each period firms … yielding (constrained) Pareto optimal payoffs. That is, price shading may not only be consistent with successful collusion, it … may be a requirement of successful collusion. …

collusion game. Consistent with the existing literature on communication and collusion, even minimal communication leads to a … short run increase in collusion. However, in a limited message-space treatment where subjects cannot communicate contingent … strategies, this initial burst of collusion rapidly collapses. When unlimited pre-game communication is allowed via a chat window …

sustain collusion the lower the search cost. In other words increased transparency may facilitate collusion even if the …

critical discount factor required to sustain collusion. This result is shown to hold for Cournot oligopoly as well as for … Bertrand oligopoly when collusion is sustained with Nash-reversion strategies or optimal-punishment strategies. In a Cournot …

collusion based on the ratio of collusive to monopolistic profits. We then prove that as the number of firms goes to infinity …, our collusive strategy profile is an equilibrium as long as the discount factor is below 0.63. Thus, collusion is robust …