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| Author: | Bockem, S. |
| Title: | Small heterogeneous cartels |
| Journal: | Journal of Institutional and Theoretical Economics
1998 : SEP, VOL. 154:3, p. 572-588 |
| Index terms: | THEORIES ECONOMICS CARTELS |
| Language: | eng |
| Abstract: | Economic theories explaining the existence of stable cartels are still rare. The paper offers a generalization of the D'ASPREMONT, JAQUEMIN, GABSZEVICZ and WEYMARK (1983) approach of stable cartels in a static "small world" framework taking into account that suppliers may differ with respect to their cost structure. Predictions concerning the number of cartel members and the cartel structure are derived: One does always observe a small cartel. Cartel size decreases with the overall number of suppliers in the market. |
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