The Collusive Equilibrium in a Quantity-Setting Supergame: An Application to Taiwan’s Flour Industry

The Collusive Equilibrium in a Quantity-Setting Supergame: An Application to Taiwan’s Flour... This paper examines the stability of the collusive equilibrium in Friedman’s repeated game through an empirical study of Taiwan’s flour market. We calculate the payoff streams following a deviation or adherence for each firm. The evidence shows that the specified punishment path is credible, and could sustain the collusive allocation. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Review of Industrial Organization Springer Journals

The Collusive Equilibrium in a Quantity-Setting Supergame: An Application to Taiwan’s Flour Industry

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Publisher
Kluwer Academic Publishers
Copyright
Copyright © 2005 by Springer
Subject
Economics; Industrial Organization; Microeconomics
ISSN
0889-938X
eISSN
1573-7160
D.O.I.
10.1007/s11151-005-1754-6
Publisher site
See Article on Publisher Site

Abstract

This paper examines the stability of the collusive equilibrium in Friedman’s repeated game through an empirical study of Taiwan’s flour market. We calculate the payoff streams following a deviation or adherence for each firm. The evidence shows that the specified punishment path is credible, and could sustain the collusive allocation.

Journal

Review of Industrial OrganizationSpringer Journals

Published: Aug 8, 2005

References

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