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The Economics of Collusion

2012-04-27 Business & Economics
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Release : 2012-04-27
Genre : Business & Economics
Kind : eBook
Book Rating : 737/5 ( reviews)

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Book Synopsis The Economics of Collusion by : Robert C. Marshall

Download or read book The Economics of Collusion written by Robert C. Marshall. This book was released on 2012-04-27. Available in PDF, EPUB and Kindle. Book excerpt: An examination of collusive behavior: what it is, why it is profitable, how it is implemented, and how it might be detected. Explicit collusion is an agreement among competitors to suppress rivalry that relies on interfirm communication and/or transfers. Rivalry between competitors erodes profits; the suppression of rivalry through collusion is one avenue by which firms can enhance profits. Many cartels and bidding rings function for years in a stable and peaceful manner despite the illegality of their agreements and incentives for deviation by their members. In The Economics of Collusion, Robert Marshall and Leslie Marx offer an examination of collusive behavior: what it is, why it is profitable, how it is implemented, and how it might be detected. Marshall and Marx, who have studied collusion extensively for two decades, begin with three narratives: the organization and implementation of a cartel, the organization and implementation of a bidding ring, and a parent company's efforts to detect collusion by its divisions. These accounts—fictitious, but rooted in the inner workings and details from actual cases—offer a novel and engaging way for the reader to understand the basics of collusive behavior. The narratives are followed by detailed economic analyses of cartels, bidding rings, and detection. The narratives offer an engaging entrée to the more rigorous economic discussion that follows. The book is accessible to any reader who understands basic economic reasoning. Mathematical material is flagged with asterisks.

Cartels and Economic Collusion

2011-01-01 Business & Economics
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Release : 2011-01-01
Genre : Business & Economics
Kind : eBook
Book Rating : 71X/5 ( reviews)

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Book Synopsis Cartels and Economic Collusion by : Michael A. Utton

Download or read book Cartels and Economic Collusion written by Michael A. Utton. This book was released on 2011-01-01. Available in PDF, EPUB and Kindle. Book excerpt: Adam Smith warned of the prevalence of corporate conspiracies more than two hundred years ago. Since then, interest in cartels has sometimes intensified (during the Great Depression, for example) and sometimes diminished, but the need for control has always remained on the antitrust agenda. This well-documented book reviews the economic case against corporate collusion, as well as the arguments made for a more permissive attitude. A survey of recent empirical research reveals not only the prevalence of a wide range of international cartels but also the size of the inefficiencies and costs that they impose on customers and consumers. The antitrust reaction has therefore intensified with greatly increased fines being imposed by the US, the EU and other authorities. At the same time, they have developed sophisticated leniency polices with the aim of destabilizing the illegal conspiracies. After reviewing these measures, the author concludes with the hope that this toughened approach is not modified or reversed during periods of recession.

Cartels and Economic Collusion

2011-01-01 Business & Economics
Download Cartels and Economic Collusion PDF Online Free

Author :
Release : 2011-01-01
Genre : Business & Economics
Kind : eBook
Book Rating : 71X/5 ( reviews)

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Book Synopsis Cartels and Economic Collusion by : Michael A. Utton

Download or read book Cartels and Economic Collusion written by Michael A. Utton. This book was released on 2011-01-01. Available in PDF, EPUB and Kindle. Book excerpt: Adam Smith warned of the prevalence of corporate conspiracies more than two hundred years ago. Since then, interest in cartels has sometimes intensified (during the Great Depression, for example) and sometimes diminished, but the need for control has always remained on the antitrust agenda. This well-documented book reviews the economic case against corporate collusion, as well as the arguments made for a more permissive attitude. A survey of recent empirical research reveals not only the prevalence of a wide range of international cartels but also the size of the inefficiencies and costs that they impose on customers and consumers. The antitrust reaction has therefore intensified with greatly increased fines being imposed by the US, the EU and other authorities. At the same time, they have developed sophisticated leniency polices with the aim of destabilizing the illegal conspiracies. After reviewing these measures, the author concludes with the hope that this toughened approach is not modified or reversed during periods of recession.

The Oxford Handbook of International Antitrust Economics

2015 Business & Economics
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Release : 2015
Genre : Business & Economics
Kind : eBook
Book Rating : 598/5 ( reviews)

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Book Synopsis The Oxford Handbook of International Antitrust Economics by : Roger D. Blair

Download or read book The Oxford Handbook of International Antitrust Economics written by Roger D. Blair. This book was released on 2015. Available in PDF, EPUB and Kindle. Book excerpt: More than any other area of regulation, antitrust economics shapes law and policy in the United States, the Americas, Europe, and Asia. In a number of different areas of antitrust, advances in theory and empirical work have caused a fundamental reevaluation and shift of some of the assumptions behind antitrust policy. This reevaluation has profound implications for the future of the field. The Oxford Handbook of International Antitrust Economics has collected chapters from many of the leading figures in antitrust. In doing so, this two volume Handbook provides an important reference guide for scholars, teachers, and practitioners. However, it is more than a merely reference guide. Rather, it has a number of different goals. First, it takes stock of the current state of scholarship across a number of different antitrust topics. In doing so, it relies primarily upon the economics scholarship. In some situations, though, there is also coverage of legal scholarship, case law developments, and legal policies. The second goal of the Handbook is to provide some ideas about future directions of antitrust scholarship and policy. Antitrust economics has evolved over the last 60 years. It has both shaped policy and been shaped by policy. The Oxford Handbook of International Antitrust Economics will serve as a policy and research guide of next steps to consider when shaping the future of the field of antitrust.

How Cartels Endure and how They Fail

2004-01-01 Business & Economics
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Release : 2004-01-01
Genre : Business & Economics
Kind : eBook
Book Rating : 373/5 ( reviews)

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Book Synopsis How Cartels Endure and how They Fail by : Peter Z. Grossman

Download or read book How Cartels Endure and how They Fail written by Peter Z. Grossman. This book was released on 2004-01-01. Available in PDF, EPUB and Kindle. Book excerpt: Why do some cartels fail and others succeed? This question has intrigued economists for a hundred years, and they have created an extensive body of theory to help explain cartel behaviour. This book looks at the experience of actual cartels and challenges their portrayal as found in the existing literature. The eleven chapters by leading researchers of industrial organization study real examples of industrial collusion. The authors investigate the formation, behaviour, activity and purpose of cartels, and illustrate the intricacies of collusive relationships. In the process they question the existing economic theory surrounding the operation of cartels, which in practice do not always adhere to the textbook models or to complex game theoretic rules. Although much economic research suggests that cartels are doomed to failure, the authors find that there are many examples of industries where cartels have succeeded in controlling prices and output over a prolonged period of time. The book is a groundbreaking attempt to study empirically a range of cartels throughout the world, providing both historical and contemporary examples of collusion to enrich the arguments. This book is written for academics, policymakers, lawyers and economists working in the fields of industrial organization and competition policy.

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