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RAND Journal of Economics

Опубликовано на портале: 22-03-2007
Robert H. Porter RAND Journal of Economics. 1983.  Vol. 14. No. 2. P. 301-314. 
This article employs weekly time series data on the Joint Executive Committee railroad cartel from 1880 to 1886 to test empirically the proposition that observed prices reflected switches from collusive to noncooperative behavior. An equilibrium model of dynamic oligopoly with asymmetric firms, together with explicit functional form assumptions about costs and demand, determines the estimating equations and stochastic structure of the econometric model. The hypothesis that no switch took place, so that price and quantity movements were solely attributable to exogenous shifts in the demand and cost functions, is then tested against this alternative and rejected.
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Опубликовано на портале: 22-03-2007
Kyle Bagwell, Susan Carleton Athey RAND Journal of Economics. 2001.  Vol. 32. No. 3. P. 428-465. 
We analyze collusion in an infinitely repeated Bertrand game, where prices are publicly observed and each firm receives a privately observed, i.i.d. cost shock in each period. Productive efficiency is possible only if high-cost firms relinquish market share. In the most profitable collusive schemes, firms implement productive efficiency, and high-cost firms are favored with higher expected market share in future periods. If types are discrete, there exists a discount factor strictly less than one above which first-best profits can be attained using history-dependent reallocation of market share between equally efficient firms. We also analyze the role of communication and side-payments.
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