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Francesco Nava and Pasquale Schiraldi
Sales are a widespread and well-known phenomenon that has been documented in several product markets. Regularities in such periodic price reductions appear to suggest that the phenomenon cannot be entirely attributed to ...Read more...
1 July 2011
The focus of the present work is to study the impact of the second-hand market the collusive behavior. I analyze firms’ preferences for having an active second-hand market and whether policies (i.e. leasing policy, buy-b...Read more...
The existence of a negative relationship between cartel stability and the level of excess capacity in an industry has for a long time been the dominant view in the traditional IO literature. Recent supergame-theoretic co...Read more...
Antoine Faure-Grimaud, Jean-Jacques Laffont and David Martimort
We propose a theory of supervision with endogenous transaction costs. A principal delegates part of his authority to a supervisor who can acquire soft information about an agent's productivity. If the supervisor were ris...Read more...
This paper analyses a dynamic game of investment in R&D or advertising, where current investments change future market conditions. It investigates whether underinvestment can be supported in equilibrium by the threat of ...Read more...
Michael A. Raith
The conventional view that product heterogeneity limits the scope for collusion among oligolpolists has been challenged in recent theoretical work. This paper provides an argument in support of the conventional view by e...Read more...