A model of semicollusion, where firms collude on prices and compete on capacities, is tailor-made to the characteristics of the Norwegian cement market and tested empirically on this particular market for the period 1927-1982. The results indicate that the rapid increase in capacity and thereby in exports in the period 1956 to 1967, the late phase of the price cartel, best can be explained by the market sharing agreement : each firm overinvested in capacity to receive a large quota in the domestic market.
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Paper provided by Norwegian School of Economics and Business Administration- in its series Papers with number
10/96.
Length: 33 pages Date of creation: 1996 Date of revision: Handle: RePEc:fth:norgee:10/96
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Find related papers by JEL classification: C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions D43 - Microeconomics - - Market Structure and Pricing - - - Oligopoly and Other Forms of Market Imperfection L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets L61 - Industrial Organization - - Industry Studies: Manufacturing - - - Metals and Metal Products; Cement; Glass; Ceramics N64 - Economic History - - Manufacturing and Construction - - - Europe: 1913-
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