Cartel stability is investigated in a context of adverse selection whereconsumers are imperfectly informed about product quality. Producer collusionmay be necessary to signal quality via third-party certification. Whileexamining different cost structures for third-party certification, we showthat a stable cartel that provides information about product quality mayimprove overall welfare even if producers collude to reduce competition.
Review of Industrial Organization – Springer Journals
Published: Oct 4, 2004
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