Cartels With Homogeneous and Differentiated Products and Imperfect Monitoring  

Oleh:

Tedeschi, Piero

Jenis: Article from Bulletin/Magazine
Dalam koleksi: INTERNATIONAL ECONOMIC REVIEW vol. 35 no. 3 (1994), page 635-656.
Topik: PRODUCTS; cartels; homogeneous; differentiated products; monitoring

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: II49.4 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

In this paper two simple oligopoly models are considered : the first with homogeneous and the second with differentiated products. Differently from previous contributions this paper shows that with imperfect monitoring, there exists a sequence of symmetric strategy profiles (with stochastic punishment) which are Bayesian perfect equilibria and whose expected present value approaches the optimal cartel one, with the desired level of approximation, as the discount factor converges to one. The strategy is similar to that proposed in 1984 by Green and Porter, but has a smooth structure and in general it allows for higher profits.

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