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Different Levels of Noncooperative Tacit Collusion: An Empirical Test

Author

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  • In Kwon Lee

    (Korea Economic Research Institute)

Abstract

This paper tests for the existence of different levels of noncooperative tacit collusion by exploiting almost same game environments of two markets, Dallas-Ft. Worth school milk market and San Antonio school milk market. The comparison of bidding strategies, bidding patterns over the bid season, average winning bids, and the incumbency premium in the DFW market with those in the San Antonio market verifies that different equilibria in the form of different levels of noncooperative tacit collusion can be supported in same game environments.

Suggested Citation

  • In Kwon Lee, 1999. "Different Levels of Noncooperative Tacit Collusion: An Empirical Test," Korean Economic Review, Korean Economic Association, vol. 15, pages 83-99.
    • Handle: RePEc:kea:keappr:ker-199906-15-1-05
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    File URL: http://keapaper.kea.ne.kr/RePEc/kea/keappr/KER-199906-15-1-05.pdf
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    More about this item

    Keywords

    Noncooperative Tacit Collusion; Repeated Game; Different Equilibria; Complementary Bidding; Incumbency Premium;
    All these keywords.

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
    • L40 - Industrial Organization - - Antitrust Issues and Policies - - - General

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