problem is to certify the private signal and make it public. When collusion between the certifier and the agent is an issue … if this certification raises the specter of collusion. …

problem is to certify the private signal and make it public. When collusion between the certifier and the agent is an issue … if this certification raises the specter of collusion. …

, when rescaling is feasible, private monitoring is more efficient than public monitoring subject to collusion because non …When a principal’s monitoring information is private (non-verifiable), the agent should be concerned that the principal …-monetary penalties are ineffective to deter collusion. …

. Conventionally, reduced consumer search costs may be expected to engender stronger price competition between firms, resulting in … sequential consumer search," American Economic Review, Vol. 79, No. 4, pp. 700--712) in a model of static firm competition. In … focus on self-enforcing collusion by firms and characterize the conditions under which collusive equilibria exist. We show …