search query: @indexterm IMPERFECT COMPETITION / total: 53
reference: 39 / 53
| Author: | Verboven, F. |
| Title: | Localized competition, multimarketoperation, and collusive behavior. |
| Journal: | International Economic Review
1998 : MAY, VOL. 39:2, p. 371-398 |
| Index terms: | OLIGOPOLY IMPERFECT COMPETITION MARKET STRUCTURE |
| Language: | eng |
| Abstract: | This article studies collusive behavior in a repeated oligopoly with localized competition. Private information about the rivals' past actions naturally arises from this market structure. The resulting communication problems imply that firms should adopt strategies with sufficiently lenient punishments. Infinite grim punishments are too severe for large discount factors. The standard stick-and-carrot punishments from the perfect public information model are too severe for all discount factors. |
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