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Semicollusion (Paperback, New)
Loot Price: R1,561
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Semicollusion (Paperback, New)
Series: Foundations and Trends (R) in Microeconomics
Expected to ship within 10 - 15 working days
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Collusion and competition are well-known concepts in economic
literature. The notion 'semicollusion' refers to situations where
firms collude in one (or several) choice variable(s) and compete in
others. Although the notion 'semicollusion' is not so often used
explicitly, it turns out that the topic is covered extensively in
the economic literature. Moreover, the phenomena 'semicollusion'
seem to be present in numerous industries. The purpose of this
monograph is to explain how semicollusion works in theory, describe
empirical studies of semicollusion, and discuss the possible
welfare effects of semicollusion. Semicollusion distinguishes
between collusion and semicollusion with examples of semicollusive
behavior in particular industries. This monograph provides a
framework for understanding the mechanism at work with
semicollusion and reviews the different approaches in the
literature to this topic. Some of the literature assumes that firms
collude on prices and compete on other variables such as
advertising, capacities, or location. However, there is also
another part of the literature where firms compete on prices and
collude along other dimensions such as R&D. The authors discuss
possible outcomes of semicollusion in industries with free entry.
Semicollusion also reviews the empirical literature on
semicollusion and the effects of semicollusion. There are empirical
studies that cover various types of collusion, for example
collusion on prices or collusion on R&D, and the authors
discuss empirical studies for those outcomes that were covered in
earlier chapters. The monograph concludes with a summary of the
authors' findings, offers general conclusions, and discusses issues
for future research.
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