are sufficiently high, trade liberalization facilitates collusion. Exactly the opposite is true if, for any given degree … of product substitutability, trade costs are sufficiently low. We also study the dependence of multimarket collusion on …

-in-advance serve as focal points for tacit collusion and to implement price discrimination in competitive markets. For round …

tacit collusion or strong competition in dependence of additional security considerations …

collusion and merely consumer rents are transferred, or both welfare and consumer rents are reduced. An all-inclusive cartel … as not all consumers are (always) served. We then lend our model to analyze collusion. We find that for any number of …