Examinando por Autor "Escrihuela-Villar, Marc"

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    ÍtemAcceso Abierto
    On Collusion and Industry Size
    (CEMA, Central University of Finance and Economics, 2011) Escrihuela-Villar, Marc; Guillén, Jorge
    In this paper we investigate the connection between the number of competitors and the sustainability of collusion within the context of a infinitely repeated symmetric Cournot model where only a subset of firms cooperate. We show that, in our model, an increase in the number of cartel firms may increase collusion likelihood by diminishing the negative effects for collusion of the existence of a competitive fringe. Also, we show that an increase in the number of fringe firms makes collusion harder to sustain.
  • Miniatura
    ÍtemAcceso Abierto
    On collusion sustainability with stacked reversion
    (Juraj Dobrila University of Pula, 2015-11-09) Escrihuela-Villar, Marc; Guillén, Jorge
    We consider a multi-period oligopoly model to analyze cartel sustainability where a subset of collusive firms is exogenously given. We assume that in case of cheating only the cheater is expelled from the cartel and collusion continues without the cheater. We show that, in our model, when firms compete in quantities and the cartel is sufficiently small, a Stackelberg leader cartel can always be sustained if firms are patient enough. Furthermore, in this case collusion is more easily sustained than when firms play grim trigger strategies. The opposite result is obtained in a price-setting supergame with differentiated products.
  • Miniatura
    ÍtemSolo Metadatos
    On welfare effects of horizontal mergers with product differentiation
    (Universidad ESAN. ESAN Ediciones, 2011-06-30) Escrihuela-Villar, Marc
    We use a non-spatial (Chamberlinian) product differentiation model to analyze the welfare effects of horizontal mergers with quantity competition. We argue that (i) mergers can be welfare enhancing if the degree of product differentiation increases after the merger; and (ii) privately profitable mergers can also increase welfare. Consequently in this paper we demonstrate that the degree of product differentiation is a crucial factor to assess the welfare effects of a merger.