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| Tekijä: | MacLeod, W. B. Norman, G. Thisse, J. F. |
| Otsikko: | Competition, tacit collusion and free entry. |
| Lehti: | Economic Journal
1987 : MAR, VOL. 97:385, p. 189-198 |
| Asiasana: | COMPETITION RESTRICTIVE PRACTICES MARKET STRUCTURE ENTRY CONDITIONS |
| Kieli: | eng |
| Tiivistelmä: | The Loeschian model used in spatial competition can be properly reinterpreted as a model of collusive oligopoly. The analysis treats collusion as a dynamic two-stage process. In the initial stage firms enter the market under non-collusive conditions. A free-entry equilibrium is determined. In the second stage firms can collude. They will increase their joint and individual profits by moving from the Bertrand-Nash price towards the Loeschian price. |
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