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| Tekijä: | Rosenbaum, D. I. Sukharomana, S. |
| Otsikko: | Oligopolistic pricing over the deterministic market demand cycle: some evidence from the US Portland cement industry |
| Lehti: | International Journal of Industrial Organization
2001 : MAY, VOL. 19:6, p. 863-884 |
| Asiasana: | OLIGOPOLY DEMAND DEMAND ANALYSIS THEORIES |
| Kieli: | eng |
| Tiivistelmä: | Haltiwanger and Harrington formulated a theory of self- enforcing collusion assuming a deterministic demand cycle. They predicted that under a self-enforcing non-cooperative pricing scheme, for any level of demand, the price in the rising part of the cycle would always be greater than the price in the falling part of the cycle. They also predicted the path of collusive profits should reach its peak before market demand. The authors test their predictions using data from the Portland cement industry. The hypotheses are tested using a multi-equation system, differentiating the boom and the bust periods from 1974 to 1989. The results support both of Haltiwanger and Harrington's hypotheses. |
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