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| Author: | Cave, J. Salant, S. |
| Title: | Cartel quotas under majority rule |
| Journal: | American Economic Review
1995 : MAR, VOL. 85:1, p. 82-102 |
| Index terms: | ORGANIZATIONS COMMODITIES CONTRACTS |
| Language: | eng |
| Abstract: | The authors examine the choice of quotas by legal volume-restricting organizations: cartels, commodity agreements, agricultural marketing boards, and prorationing boards. Unlike their illegal counterparts, legal cartels have published regulations and broader enforcement capabilities. However, differences in costs and size among cartel members still make quota selection contentious. The authors examine the predicted effects of this real-world voting institution on prices and welfare. |
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