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Information Sharing and Tacit Collusion in Laboratory Duopoly Markets

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  • Cason, Timothy N
  • Mason, Charles F

Abstract

This paper reports forty-five laboratory duopoly markets that examine the importance of information sharing in facilitating tacit collusion under conditions of demand uncertainty. Sellers in these repeated laboratory markets generally shared information when possible to reduce their demand uncertainty, which led to output reductions in some demand states. Risk aversion is a likely explanation for this sharing but some sellers also appeared to employ a strategy of information concealment to punish noncolluding rivals. Nevertheless, output choices were similar in control treatments that forced sellers to share or conceal information, so the information sharing itself did not substantially increase tacit collusion. Copyright 1999 by Oxford University Press.

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Bibliographic Info

Article provided by Western Economic Association International in its journal Economic Inquiry.

Volume (Year): 37 (1999)
Issue (Month): 2 (April)
Pages: 258-81

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Handle: RePEc:oup:ecinqu:v:37:y:1999:i:2:p:258-81

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Cited by:
  1. Chang, Chun-Hao & Prakash, Arun J. & Yeh, Shu, 2004. "Sale of monopoly information and behavior of rivaling clients: A theoretical perspective," Review of Financial Economics, Elsevier, vol. 13(3), pages 283-304.
  2. Krämer, Jan & Vogelsang, Ingo, 2012. "Co-investments and tacit collusion in regulated network industries: Experimental evidence," 23rd European Regional ITS Conference, Vienna 2012 60389, International Telecommunications Society (ITS).
  3. SUETENS, Sigrid, 2004. "Literature review: R&D cooperation in oligopoly with spillovers: An experimental economics approach," Working Papers 2004024, University of Antwerp, Faculty of Applied Economics.
  4. repec:ebl:ecbull:v:3:y:2002:i:6:p:1-11 is not listed on IDEAS
  5. Liliane Karlinger, 2008. "How Demand Information Can Destabilize a Cartel," Vienna Economics Papers 0803, University of Vienna, Department of Economics.
  6. John A. List, 2009. "The Economics of Open Air Markets," NBER Working Papers 15420, National Bureau of Economic Research, Inc.
  7. Kazunori Miwa, 2013. "The Impact of Mandatory Disclosure on Information Acquisition: Theory and Experiment," Discussion Papers in Economics and Business 13-01, Osaka University, Graduate School of Economics and Osaka School of International Public Policy (OSIPP).
  8. Till Requate & Israel Waichman, 2011. "“A profit table or a profit calculator?” A note on the design of Cournot oligopoly experiments," Experimental Economics, Springer, vol. 14(1), pages 36-46, March.
  9. Robert Feinberg & Christopher Snyder, 2002. "Collusion with secret price cuts: an experimental investigation," Economics Bulletin, AccessEcon, vol. 3(6), pages 1-11.

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