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DTSTART;TZID=Europe/Helsinki:20260922T124500
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CREATED:20260714T120105Z
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UID:10788-1790081100-1790085600@economia.uc3m.es
SUMMARY:Collusion without Patience
DESCRIPTION:Toomas Hinnosaar\n(University of Nottingham)\n  \n«Collusion without Patience»\nAbstract: Tacit collusion is usually linked to repeated interactions between patient firms. We show that it can also arise in a one-shot duopoly. When firms choose capacities and face outsourcing contracts with minimum order quantities\, gaps in feasible outputs allow commitment not to sell intermediate quantities. For a range of parameters\, there exists a collusive equilibrium in which both firms produce less and earn more than under competition. Three other equilibria can also arise: competitive\, leadership\, and miscoordination. We then extend the model to general two-sided limited commitment and show that it yields the same set of equilibria. \n\nFace-to-face Seminar 15.2.71 – Room 15.1.39
URL:https://economia.uc3m.es/event/collusion-without-patience/
LOCATION:15.1.39
CATEGORIES:Seminario de Microeconomía
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