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significantly decreased cartel activity. The design of these repeated game experiments however is such that engaging in illegal …
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We study competition between political parties in repeated elections with probabilistic voting, allowing a multidimensional policy space and multiple political parties. This model entails multiple equilibria. When parties hold different opinions on some policy, they may take different policy...
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This paper studies whether mergers may lead to partial tacit collusion, thereby having the potential to induce simultaneous coordinated and non-coordinated effects. We use a Bertrand-Edgeworth model with heterogeneous discount factors to derive conditions for profitable and stable collusion and...
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In this paper we set out the welfare economics based case for imposing cartel penalties on the cartel overcharge rather … of a penalty based on the cartel overcharge with three other penalty regimes: fixed penalties; penalties based on revenue … conjunction with the above result, our analysis of cartel stability (and thus deterrence), shows that penalties based on the …
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