The critical discount factor as a measure for cartel stability?

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BRUTTEL, Lisa, 2009. The critical discount factor as a measure for cartel stability?. In: Journal of Economics. 96(2), pp. 113-136. Available under: doi: 10.1007/s00712-008-0048-5

@article{Bruttel2009criti-11944, title={The critical discount factor as a measure for cartel stability?}, year={2009}, doi={10.1007/s00712-008-0048-5}, number={2}, volume={96}, journal={Journal of Economics}, pages={113--136}, author={Bruttel, Lisa} }

First publ. in: Journal of Economics 96 (2009), 2, pp.113-136 2011-03-25T09:41:15Z application/pdf The critical discount factor as a measure for cartel stability? deu 2011-03-25T09:41:15Z 2009 deposit-license Bruttel, Lisa Bruttel, Lisa This paper considers the stability of tacit collusion in price setting duopolies with repeated interaction. The minimum discount factor above which tacit collusion can be sustained in a subgame perfect equilibrium is called the critical discount factor delta*. In addition, delta* is often used as an intuitive measure for the stability of a tacit cartel, assuming that a collusive equilibrium is more difficult to sustain when delta* increases. However, according to standard theory the distance delta - delta* between the actual and the critical discount factor does not matter for stability as long as delta > delta*. This paper contributes experimental evidence that supports the intuitive idea that a larger critical discount factor makes collusion a less likely outcome.

Dateiabrufe seit 01.10.2014 (Informationen über die Zugriffsstatistik)

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