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In Which Industries Is Collusion More Likely?

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  • Symeonidis, George

Abstract

This paper provides an analysis of factors facilitating or hindering collusion using data on the occurrence of price-fixing across UK manufacturing industries in the 1950s. The econometric results suggest that collusion is more likely the higher the degree of capital intensity and less likely in advertising-intensive than in low-advertising industries, while the relationship between market growth and the likelihood of collusion is non-monotonic. Less clear results are obtained with respect to R&D intensity and concentration.

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Bibliographic Info

Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 2301.

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Date of creation: Nov 1999
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Handle: RePEc:cpr:ceprdp:2301

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Keywords: Cartels; Collusion; UK Manufacturing;

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References

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  1. Rivers, Douglas & Vuong, Quang H., 1988. "Limited information estimators and exogeneity tests for simultaneous probit models," Journal of Econometrics, Elsevier, vol. 39(3), pages 347-366, November.
  2. Hackner, Jonas, 1994. "Collusive pricing in markets for vertically differentiated products," International Journal of Industrial Organization, Elsevier, vol. 12(2), pages 155-177, June.
  3. Symeonidis, George, 2000. "Price Competition and Market Structure: The Impact of Cartel Policy on Concentration in the UK," Journal of Industrial Economics, Wiley Blackwell, vol. 48(1), pages 1-26, March.
  4. Kenneth Bollen & David Guilkey & Thomas Mroz, 1995. "Binary outcomes and endogenous explanatory variables: Tests and solutions with an application to the demand for contraceptive use in tunisia," Demography, Springer, vol. 32(1), pages 111-131, February.
  5. Hay, George A & Kelley, Daniel, 1974. "An Empirical Survey of Price Fixing Conspiracies," Journal of Law and Economics, University of Chicago Press, vol. 17(1), pages 13-38, April.
  6. Symeonidis, George, 1999. "Cartel stability in advertising-intensive and R&D-intensive industries," Economics Letters, Elsevier, vol. 62(1), pages 121-129, January.
  7. Symeonidis, George, 2000. "Price Competition, Non-price Competition and the Market Structure: Theory and Evidence from the UK," Economica, London School of Economics and Political Science, vol. 67(267), pages 437-56, August.
  8. Asch, Peter & Seneca, J J, 1976. "Is Collusion Profitable?," The Review of Economics and Statistics, MIT Press, vol. 58(1), pages 1-12, February.
  9. Dick, Andrew R, 1996. "When Are Cartels Stable Contracts?," Journal of Law and Economics, University of Chicago Press, vol. 39(1), pages 241-83, April.
  10. Jacquemin, Alexis & Nambu, Tsuruhiko & Dewez, Isabelle, 1981. "A Dynamic Analysis of Export Cartels: The Japanese Case," Economic Journal, Royal Economic Society, vol. 91(363), pages 685-96, September.
  11. Fraas, Arthur G & Greer, Douglas F, 1977. "Market Structure and Price Collusion: An Empirical Analysis," Journal of Industrial Economics, Wiley Blackwell, vol. 26(1), pages 21-44, September.
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Cited by:
  1. Symeonidis, George, 2000. "Price Competition and Market Structure: The Impact of Cartel Policy on Concentration in the UK," Journal of Industrial Economics, Wiley Blackwell, vol. 48(1), pages 1-26, March.
  2. Markku Stenborg, 2004. "Forest for the Trees: Economics of Joint Dominance," European Journal of Law and Economics, Springer, vol. 18(3), pages 365-385, December.
  3. Stenborg, Markku, 2002. "Economics of Joint Dominance," Discussion Papers 834, The Research Institute of the Finnish Economy.

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