Cartels Uncovered-Reference-Cited by-同舟云学术

Cartels Uncovered

Published:2018-11-01 Issue:4 Volume:10 Page:190-222
ISSN:1945-7669
Container-title:American Economic Journal: Microeconomics
language:en
Short-container-title:American Economic Journal: Microeconomics

Author:

Hyytinen Ari¹,Steen Frode²,Toivanen Otto³

Affiliation:

1. Department of Economics, Hanken School of Economics, PO Box 479, FI-00101 Helsinki, Finland and University of Jyväskylä (email: )

2. Department of Economics, Norwegian School of Economics, 5045 Bergen, Norway and CEPR (email: )

3. Department of Economics, Aalto University School of Business, PO Box 21240, FI-0076 AALTO, Finland, Helsinki Graduate School of Economics, KU Leuven, and CEPR (email: )

Abstract

How many cartels are there, and how long do they live? The answers to these questions are important in assessing the need for competition policy. We present a Hidden Markov Model that takes into account that often it is not known whether a cartel exists or not. We take the model to data from a period of legal cartels—Finnish manufacturing industries 1951–1990. Our estimates suggest that once born, cartels are persistent; by the end of the period, almost all industries were cartelized. (JEL D43, K21, L12, L13, L41, L60)

Publisher

American Economic Association

Subject

General Economics, Econometrics and Finance

Link

https://pubs.aeaweb.org/doi/pdf/10.1257/mic.20160326

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1. Simulating Collusion: Challenging Conventional Estimation Methods;2024-07-09

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4. How communication makes the difference between a cartel and tacit collusion: A machine learning approach;European Economic Review;2023-02

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