Cooperation and Efficiency in Markets(Horniacek)

series:Lecture Notes in Economics and Mathematical Systems

The book deals with collusion between firms on both sides of a market that is immune to deviations by coalitions. We study this issue using an infinitely countably repeated game with discounting of future single period payoffs. A strict strong perfect equilibrium is the main solution concept that we apply. It requires that no coalition of players in no subgame can weakly Pareto improve the …

Leave a Reply

Your email address will not be published. Required fields are marked *