Nationalization as Credible Threat Against Tacit Collusion
نویسندگان
چکیده
منابع مشابه
Tacit Collusion in Oligopoly∗
We examine the economics literature on tacit collusion in oligopoly markets and take steps toward clarifying the relation between economists’ analysis of tacit collusion and those in the legal literature. We provide an example to motivate the idea that collusive profits can be achieved via tacit coordination in an environment where there is a unique, salient way for colluders to maximize and di...
متن کاملCompetition Policy, Collusion, and Tacit Collusion
In this paper, I pursue three goals. The first is to model collusion in a way that is distinct from noncooperative collusion. The second and third are to develop a particular specification of a standard model of noncooperative collusion that permits explicit solution for equilibrium outputs and reversion thresholds and to extend this analysis to allow for a deterrence-based competition policy t...
متن کاملTacit collusion in repeated auctions
This paper considers the question of tacit collusion in repeated auctions with independent private values and with limited public monitoring. McAfee and McMillan show that the extent of collusion is tied to availability of transfers. Monetary transfers allow cartels to extract full surplus. A folk theorem proved by Fudenberg at al. shows that transfers of future payoffs are almost as good if pl...
متن کاملAuction Design with Tacit Collusion∗
We study an auction design problem where the auctioneer anticipates that bidders collude tacitly. We model tacit collusion in the following way: whichever auction the auctioneer announces, it becomes the stage game of a corresponding repeated game, and out of all sequential equilibria of the resulting repeated game, bidders play the one that maximizes their total ex ante payoff. We show that an...
متن کاملModeling Tacit Collusion in Auctions
We study tacit collusion in repeated auctions in which bidders can only observe past winners and not their bids. We adopt a stringent interpretation of tacit collusion as collusion without communication about strategies that we model as a symmetry restriction on repeated game strategies: Strategies cannot discriminate among initially nameless bidders until they have become named through winning...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2014
ISSN: 1556-5068
DOI: 10.2139/ssrn.2513702